LESSON 5 1 Checking Accounts CENTURY 21 ACCOUNTING

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LESSON 5 -1 Checking Accounts CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

LESSON 5 -1 Checking Accounts CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

2 DEPOSITING CASH CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning page 119 LESSON

2 DEPOSITING CASH CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning page 119 LESSON 5 -1

3 DEPOSIT RECORDED ON A CHECK STUB CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage

3 DEPOSIT RECORDED ON A CHECK STUB CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning page 119 LESSON 5 -1

4 ENDORSEMENTS page 120 Blank Endorsement Special Endorsement Restrictive Endorsement CENTURY 21 ACCOUNTING ©

4 ENDORSEMENTS page 120 Blank Endorsement Special Endorsement Restrictive Endorsement CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5 -1

5 COMPLETED CHECK STUB 1 2 page 121 1. Write the amount of the

5 COMPLETED CHECK STUB 1 2 page 121 1. Write the amount of the check. 3 2. Write the date of the check. 4 3. Write to whom the check is to be paid. 4. Record the purpose of the check. 5. Write the amount of the check. 6 5 6. Calculate the new checking account balance. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5 -1

6 COMPLETED CHECK page 121 7 8 9 10 11 7. Write the date.

6 COMPLETED CHECK page 121 7 8 9 10 11 7. Write the date. 8. Write to whom the check is to be paid. 9. Write the amount in figures. 12 10. Write the amount in words. 11. Write the purpose of the check. 12. Sign the check. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5 -1

7 RECORDING A VOIDED CHECK 2 1 1. 2. 3. 4. 5. page 122

7 RECORDING A VOIDED CHECK 2 1 1. 2. 3. 4. 5. page 122 4 3 5 Record the date. Write the word VOID in the Account Title column Write the check number. Place a check mark in the Post. Ref. column. Place a dash in the Cash Credit column. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5 -1

8 TERMS REVIEW n n n n page 123 code of conduct checking account

8 TERMS REVIEW n n n n page 123 code of conduct checking account endorsement blank endorsement special endorsement restrictive endorsement postdated check CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5 -1

LESSON 5 -2 Bank Reconciliation CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

LESSON 5 -2 Bank Reconciliation CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

10 BANK STATEMENT CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning page 124 LESSON

10 BANK STATEMENT CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning page 124 LESSON 5 -1

11 BANK STATEMENT RECONCILIATION 1. Date 2. Check Stub Balance 3. Service Charge 4.

11 BANK STATEMENT RECONCILIATION 1. Date 2. Check Stub Balance 3. Service Charge 4. Adjusted Check Stub Balance 3 5. Bank Statement Balance 6. Outstanding Deposits 7. Subtotal 8. Outstanding Checks 9. Adjusted Bank Balance 10. Compare Adjusted Balances page 125 1 2 5 6 7 4 CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 8 9 10 LESSON 5 -2

12 RECORDING A BANK SERVICE CHARGE ON A CHECK STUB page 126 1. Write

12 RECORDING A BANK SERVICE CHARGE ON A CHECK STUB page 126 1. Write Service Charge $8. 00 on the check stub under the heading “Other. ” 2. Write the amount of the service charge in the amount column. 3. Calculate and record the new subtotal on the Subtotal line. 1 2 3 CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5 -1

13 JOURNALIZING A BANK SERVICE CHARGE page 127 August 31. Received bank statement showing

13 JOURNALIZING A BANK SERVICE CHARGE page 127 August 31. Received bank statement showing August bank service charge, $8. 00. Memorandum No. 3. 4 1 2 3 1. Date. Write the date. 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. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5 -1

14 TERM REVIEW page 128 n bank statement CENTURY 21 ACCOUNTING © 2009 South-Western,

14 TERM REVIEW page 128 n bank statement CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5 -1

LESSON 5 -3 Dishonored Checks and Electronic Banking CENTURY 21 ACCOUNTING © 2009 South-Western,

LESSON 5 -3 Dishonored Checks and Electronic Banking CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

16 RECORDING A DISHONORED CHECK ON page 129 A CHECK STUB 1 2 3

16 RECORDING A DISHONORED CHECK ON page 129 A CHECK STUB 1 2 3 1. Write Dishonored check $105. 00 on the line under the heading “Other. ” 2. Write the total of the dishonored check in the amount column. 3. Calculate and record the new subtotal on the Subtotal line. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5 -1

17 JOURNALIZING A DISHONORED CHECK page 130 November 29. Received notice from the bank

17 JOURNALIZING A DISHONORED CHECK page 130 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. 1 4 2 1. Date. Write the date. 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. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 3 LESSON 5 -1

18 JOURNALIZING AN ELECTRONIC FUNDS TRANSFER page 131 September 2. Paid cash on account

18 JOURNALIZING AN ELECTRONIC FUNDS TRANSFER page 131 September 2. Paid cash on account to Kelson Enterprises, $350. 00, using EFT. Memorandum No. 10. 4 1 2 3 1. Date. Write the date. 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. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5 -1

19 JOURNALIZING A DEBIT CARD TRANSACTION page 132 September 5. Purchased supplies, $24. 00,

19 JOURNALIZING A DEBIT CARD TRANSACTION page 132 September 5. Purchased supplies, $24. 00, using debit card. Memorandum No. 12. 4 1 2 3 1. Date. Write the date. 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. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5 -1

20 TERMS REVIEW page 133 n dishonored check n electronic funds transfer n debit

20 TERMS REVIEW page 133 n dishonored check n electronic funds transfer n debit card CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5 -1

LESSON 5 -4 Petty Cash CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

LESSON 5 -4 Petty Cash CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

22 ESTABLISHING A PETTY CASH FUND page 134 August 19. Paid cash to establish

22 ESTABLISHING A PETTY CASH FUND page 134 August 19. Paid cash to establish a petty cash fund, $100. Check No. 8. 4 1 2 3 1. Date. Write the date. 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. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5 -1

23 MAKING PAYMENTS FROM A PETTY CASH FUND WITH A PETTY CASH SLIP CENTURY

23 MAKING PAYMENTS FROM A PETTY CASH FUND WITH A PETTY CASH SLIP CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning page 135 LESSON 5 -1

24 REPLENISHING PETTY CASH page 136 August 31. Paid cash to replenish the petty

24 REPLENISHING PETTY CASH page 136 August 31. Paid cash to replenish the petty cash fund, $30. 00: miscellaneous expense, $20. 00; advertising, $10. 00. Check No. 12. 4 1 3 2 1. Date. Write the date. 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. 3. Credit. Record the amount credited. 4. Source document. Write the source document number. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5 -1

25 TERMS REVIEW page 138 n petty cash slip CENTURY 21 ACCOUNTING © 2009

25 TERMS REVIEW page 138 n petty cash slip CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5 -1

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