DEFINITION A report of deposits withdrawals and bank

DEFINITION A report of deposits, withdrawals, and bank balances sent to a depositor by a bank. BANK STATEMENT

DEFINITION An endorsement consisting only of the endorser’s signature. BLANK

DEFINITION A bank account from which payments can be ordered by a depositor. CHECKING ACCOUNT

DEFINITION A statement that guides the ethical behavior of a company and its employees. CODE OF CONDUCT

DEFINITION A bank card that, when making purchases, automatically deducts the amount of the purchase from the checking account of the cardholder. DEBIT CARD

DEFINITION A check that a bank refuses to pay. DISHONORED CHECK

DEFINITION A computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents. ELECTRONIC FUNDS TRANSFER

DEFINITION A signature or stamp on the back of a check transferring ownership. ENDORSEMENT

DEFINITION An amount of cash kept on hand used for making small payments. PETTY CASH

DEFINITION A form showing proof of a petty cash payment. PETTY CASH SLIP

DEFINITION A check with a future date on it. POST DATED CHECK

DEFINITION An endorsement restricting further transfer of a check’s ownership. RESTRICTIVE ENDORSEMENT

DEFINITION An endorsement indicating a new owner of a check. SPECIAL ENDORSEMENT

Ownership of a check can or can not be transferred. CAN

Voided checks should be recorded in the _______. JOURNAL

Using a memorandum as the source document for a dishonored check is an application of the accounting concept _______. OBJECTIVE EVIDENCE

The petty cash fund is a/an _______ (account classification) with a normal ______ balance. ASSET DEBIT

When petty cash is replenished, _____ is debited and Cash is credited. EACH ACCOUNT THAT IS BEING REPLENISHED

A check with a _____ endorsement can be cashed by anyone who has the check. BLANK

An _______ check is one that has been issued but not yet reported on a bank statement by the bank. OUTSTANDING

A bank requires that the signature of the person authorized to sign checks be on the ____ card. SIGNATURE

The source document for an electronic funds transfer is a ______. MEMORANDUM

The source document for a debit card purchase is a _______. MEMORANDUM

Each time cash or checks are placed in a bank account, the customer prepares a _______. DEPOSIT SLIP

An endorsement on the back of a check consisting only of a signature is a ____ endorsement. BLANK

A lost check with a blank endorsement on it can be cashed by ____. ANYONE WHO HAS THE CHECK

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

An endorsement on the back of a check indicating that the check is to be accepted for deposit only is a _______ endorsement. RESTRICTIVE

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

The entry to establish a $200 Petty Cash fund is: Debit _______ for $200 Credit _______ for $200 PETTY CASH

A petty cash fund is always replenished _______. AT THE END OF THE MONTH

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 ____.

$5, 300 $5, 500 – 600 + 400 = $5, 300 Service Charge is already on bank statement so no math is calculated. You record that amount in your register.