lesson 5-1
DESCRIPTION
LESSON 5-1. Checking Accounts. DEPOSITING CASH. page 119. DEPOSIT RECORDED ON A CHECK STUB. page 119. Blank Endorsement. Special Endorsement. Restrictive Endorsement. ENDORSEMENTS. page 120. COMPLETED CHECK STUB. page 121. 1. 1.Write the amount of the check. 2. 3. - PowerPoint PPT PresentationTRANSCRIPT
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-1LESSON 5-1
Checking Accounts
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
DEPOSITING CASHDEPOSITING CASH page 119
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
DEPOSIT RECORDED ON DEPOSIT RECORDED ON A CHECK STUBA CHECK STUB page 119
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
ENDORSEMENTSENDORSEMENTS page 120
Blank EndorsementBlank Endorsement
Special EndorsementSpecial Endorsement
Restrictive EndorsementRestrictive Endorsement
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
5. Write the amount of the check.
2. Write the date of the check.
3. Write to whom the check is to be paid.
4. Record the purpose of the check.
1. Write the amount of the check.
6. Calculate the new checking account balance.
COMPLETED CHECK STUBCOMPLETED CHECK STUB page 121
1122
33
44
5566
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
COMPLETED CHECKCOMPLETED CHECK
7. Write the date.
page 121
1111 1212
1010
9988
77
10. Write the amount in words.
8. Write to whom the check is to be paid.
9. Write the amount in figures.
11. Write the purpose of the check.
12. Sign the check.
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
1. Record the date.
2. Write the word VOID in the Account Title column
3. Write the check number.
4. Place a check mark in the Post. Ref. column.
5. Place a dash in the Cash Credit column.
RECORDING A VOIDED CHECKRECORDING A VOIDED CHECK page 122
1122
3344
55
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
TERMS REVIEWTERMS REVIEW
code of conduct checking account endorsement blank endorsement special endorsement restrictive endorsement postdated check
page 123
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-2LESSON 5-2
Bank Reconciliation
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
BANK STATEMENTBANK STATEMENT page 124
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LESSON 5-2CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
5.Bank Statement Balance
BANK STATEMENT RECONCILIATIONBANK STATEMENT RECONCILIATION
1122
33
44
55
66
77
88
99
9.Adjusted Bank Balance
page 125
2.Check Stub Balance
10. Compare Adjusted Balances
1.Date
3.Service Charge4.Adjusted Check Stub Balance
6.Outstanding Deposits7.Subtotal8.Outstanding Checks 1010
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
1. Write Service Charge $8.00 on the check stub under the heading “Other.”
RECORDING A BANK SERVICE CHARGE RECORDING A BANK SERVICE CHARGE ON A CHECK STUBON A CHECK STUB page 126
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33
2. Write the amount of the service charge in the amount column.
3. Calculate and record the new subtotal on the Subtotal line.
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
JOURNALIZING A BANK SERVICE JOURNALIZING A BANK SERVICE CHARGECHARGE
1. Date. Write the date.
page 127
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August 31. Received bank statement showing August bank service charge, $8.00. Memorandum No. 3.
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2. Debit. Write the title of the account to be debited. Record the amount debited.
3. Credit. Record the amount credited.
4. Source document. Write the source document number.
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
TERM REVIEWTERM REVIEW
bank statement
page 128
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-3LESSON 5-3
Dishonored Checks and Electronic Banking
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
RECORDING A DISHONORED CHECK ON RECORDING A DISHONORED CHECK ON A CHECK STUBA CHECK STUB
1. Write Dishonored check $105.00 on the line under the heading “Other.”
page 129
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2. Write the total of the dishonored check in the amount column.
3. Calculate and record the new subtotal on the Subtotal line.
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
JOURNALIZING A DISHONORED CHECKJOURNALIZING A DISHONORED CHECK
1. Date. Write the date.
page 130
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33
44
November 29. Received notice from the bank of a dishonored check from Campus Internet Café, $70.00, plus $35.00 fee; total, $105.00. Memorandum No. 55.
2. Debit. Write the title of the account to be debited.
3. Credit. Write the amount credited.
4. Source document. Write the source document number.
22
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
JOURNALIZING AN ELECTRONIC FUNDS JOURNALIZING AN ELECTRONIC FUNDS TRANSFERTRANSFER
1. Date. Write the date.
page 131
September 2. Paid cash on account to Kelson Enterprises, $350.00, using EFT. Memorandum No. 10.
11 33
44
22
2. Debit. Write the title of the account to be debited. Record the amount debited.
3. Credit. Record the amount credited.
4. Source document. Write the source document number.
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
JOURNALIZING A DEBIT CARD JOURNALIZING A DEBIT CARD TRANSACTIONTRANSACTION
1. Date. Write the date.
page 132
September 5. Purchased supplies, $24.00, using debit card. Memorandum No. 12.
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44
22
2. Debit. Write the title of the account to be debited. Record the amount debited.
3. Credit. Record the amount credited.
4. Source document. Write the source document number.
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
TERMS REVIEWTERMS REVIEW
dishonored check electronic funds transfer debit card
page 133
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-4LESSON 5-4
Petty Cash
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
ESTABLISHING A PETTY CASH FUNDESTABLISHING A PETTY CASH FUND
1. Date. Write the date.
page 134
August 19. Paid cash to establish a petty cash fund, $100.00. Check No. 8.
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44
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2. Debit. Write the title of the account to be debited. Record the amount debited.
3. Credit. Record the amount credited.
4. Source document. Write the source document number.
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
MAKING PAYMENTS FROM A PETTY MAKING PAYMENTS FROM A PETTY CASH FUND WITH A PETTY CASH SLIPCASH FUND WITH A PETTY CASH SLIP page 135
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
REPLENISHING PETTY CASHREPLENISHING PETTY CASH
1. Date. Write the date.
page 136
11
44
33
August 31. Paid cash to replenish the petty cash fund, $30.00: miscellaneous expense, $20.00; advertising, $10.00. Check No. 12.
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4. Source document. Write the source document number.
3. Credit. Record the amount credited.
2. Debit. Write the title of the first account to be debited. Write the amount to be debited. Write the title of the second account to be debited. Record the amount to be debited.
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LESSON 5-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
TERMS REVIEWTERMS REVIEW
petty cash petty cash slip
page 138