Chapter 5
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Bank statement | a report of deposits, withdrawals, and bank balances sent to a depositor by a bank
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| Blank endorsement | an endorsement consisting only of the endorser's signature
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| Canceled check | a check which has been paid by the bank
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| Cash over | a petty cash on hand amount that is more than a recorded amount
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| Cash short | a petty cash on hand amount that is less than a recorded amount
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| Checking account | a bank account from which payments can be ordered by a depositor
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| Debit card | a bank card that automatically deducts the amount of a purchase from the checking account of the cardholder
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| Deposit slip | a bank form which lists checks, currency, and coin an account holder is adding to the bank account
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| Dishonored check | a check that a bank refuses to pay
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| Electronic funds transfer | a computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents
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| Endorsement | a signature or stamp on the back of a check transferring ownership
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| Non-sufficient funds check | a check dishonored by the bank because of insufficient funds in the account of the marker
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| Petty Cash | an amount of cash kept on hand and used for making small payments
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| Petty Cash slip | a form showing proof of a petty cash payment
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| Postdated check | a check with a future date
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| Restrictive endorsement | an endorsement restricting further transfer of a check's ownership
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| Special endorsement | an endorsement indicating a new owner of a check
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| FYI – Steps to Recording a Voided Check | 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 pot. ref. column
5.Place a dash in the cash credit column
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| FYI – Purpose of a check stub | to keep a business's record of each check written for a cash payment transaction
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| FYI – FDIC | the Federal Deposit Insurance Corporation protects depositors from banks that fail.
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| FYI – 5 other reasons for a dishonored check | 1.The check appears to be altered 2.The signature doesn't match the one on the signature card 3.The amounts written in figures and words don't agree 4.The check is postdated 5.The person who wrote the check has stopped payment on the check
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| FYI – Steps to replenish Petty Cash | 1.Write date 2.write the titles of the accounts to be debited in the account title column 3.Record debited amounts in the general debit column 4.Write title and the amount of the shortage 5.Write amount of replenishment 6.Write source document
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| Voided Check | a check that cannot be processed because the marker has made it invalid
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
sjacobs1203