definition a report of deposits, withdrawals, and bank balances sent to a depositor by a bank. bank...
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![Page 1: DEFINITION A report of deposits, withdrawals, and bank balances sent to a depositor by a bank. BANK STATEMENT](https://reader036.vdocuments.us/reader036/viewer/2022081421/56649ecb5503460f94bd954b/html5/thumbnails/1.jpg)
DEFINITIONA report of deposits, withdrawals,
and bank balances sent to a depositor by a bank.
BANK STATEMENT
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DEFINITIONAn endorsement consisting
only of the endorser’s signature.
BLANK
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DEFINITIONA bank account from which
payments can be ordered by a depositor.
CHECKING ACCOUNT
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DEFINITIONA statement that guides the
ethical behavior of a company and its employees.
CODE OF CONDUCT
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DEFINITIONA bank card that, when making
purchases, automatically deducts the amount of the purchase from
the checking account of the cardholder.
DEBIT CARD
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DEFINITIONA check that a bank refuses to
pay.
DISHONORED CHECK
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DEFINITIONA computerized cash payments
system that transfers funds without the use of checks, currency, or other paper
documents.ELECTRONIC FUNDS
TRANSFER
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DEFINITIONA signature or stamp on the back of a check transferring
ownership.
ENDORSEMENT
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DEFINITIONAn amount of cash kept on hand and used for making
small payments.
PETTY CASH
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DEFINITIONA form showing proof of a
petty cash payment.
PETTY CASH SLIP
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DEFINITIONA check with a future date
on it.
POST DATED CHECK
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DEFINITIONAn endorsement restricting further transfer of a check’s
ownership.
RESTRICTIVE ENDORSEMENT
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DEFINITIONAn endorsement indicating a
new owner of a check.
SPECIAL ENDORSEMENT
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Ownership of a check can or can not be transferred.
CAN
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Voided checks should be recorded in the _______.
JOURNAL
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Using a memorandum as the source document for a dishonored check is an
application of the accounting concept _______ _______.
OBJECTIVE EVIDENCE
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The petty cash fund is a/an _______ (account classification) with a normal ______ balance.
ASSET
DEBIT
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When petty cash is replenished, _____ is debited
and Cash is credited.
EACH ACCOUNT THAT IS BEING REPLENISHED
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A check with a _____ endorsement can be cashed
by anyone who has the check.
BLANK
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An _______ check is one that has been issued but not yet
reported on a bank statement by the bank.
OUTSTANDING
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A bank requires that the signature of the person
authorized to sign checks be on the ________ card.
SIGNATURE
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The source document for an electronic funds transfer is a
____________.
MEMORANDUM
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The source document for a debit card purchase is a _______.
MEMORANDUM
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Each time cash or checks are placed in a bank account, the
customer prepares a _______.
DEPOSIT SLIP
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An endorsement on the back of a check consisting only of a
signature is a ________ endorsement.
BLANK
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A lost check with a blank endorsement on it can be
cashed by ________.
ANYONE WHO HAS
THE CHECK
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An endorsement on the back of a check consisting of the words
“Pay to the order of” and a new check owner’s name is a _________ endorsement.
SPECIAL
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An endorsement on the back of a check indicating that the check is to be accepted for deposit only is
a _______ endorsement.
RESTRICTIVE
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What do you do if any kind of error is made in preparing a
check?•PREPARE A NEW CHECK
•WRITE “VOID” ON THE CHECK STUB•WRITE “VOID” ON THE CHECK
•ALL OF THE ABOVE
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The entry to establish a $200 Petty Cash fund is:
Debit _______ for $200Credit _______ for $200
PETTY CASH
CASH
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A petty cash fund is always replenished _______.
AT THE END OF THE MONTH
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The bank statement shows a checking account balance of
$5,500. There are outstanding checks totaling $600, and
outstanding deposit of $400, and a bank service charge of
$15. The Cash account balance should be ________.
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$5,300$5,500 – 600 + 400 = $5,300Service Charge is already on bank statement so no math is
calculated. You record that amount in your register.