A monthly report of deposits, withdrawals, and bank balances sent to a depositor by a bank.
What is a bank statement?
100
A bank card that automatically deducts the amount of a purchase from the checking account of the cardholder.
What is a debit card?
100
An _______________ is a signature on the back of a check which enables it to be deposited.
What is an endorsement?
100
You purchased supplies using a debit card. The two accounts affected in this transaction are _____________ and ______________.
What are Supplies and Cash?
100
If a check is an NSF, postdated, or altered in any way, the bank may choose to ______________.
What is dishonoring a check?
200
An amount of cash kept on hand and used for making small payments.
What is petty cash?
200
A computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents.
What is an electronic funds transfer (EFT)?
200
Businesses use __________ when writing a check is not time or cost effective.
What is petty cash?
200
You paid cash to establish a petty cash fund. The two accounts affected in this transaction are _____________ and ______________.
What are Petty Cash and Cash?
200
A check with a future date written on it.
What is a postdated check?
300
A check dishonored by the bank because of insufficient funds in the account of the maker of the check.
What is a non-sufficient funds (NSF) check?
300
A signature or stamp on the back of a check, transferring ownership.
What is endorsement?
300
Cash Short and Over is classified as an ______________ (type of transaction).
What is an expense?
300
You received notice from the bank of a dishonored check from Susie Q's Workshop. The two accounts affected in this transaction are _____________ and ______________.
What are Accounts Receivable--Susie Q's Workshop and Cash?
300
Definition: verifying that the information on a bank statement and a checkbook are in agreement.
What is bank reconciliation?
400
A petty cash on hand amount that is less than a recorded amount.
What is cash short?
400
A petty cash on hand amount that is more than a recorded amount.
What is cash over?
400
Each time cash or checks are placed in a bank account, the customer prepares a _______________.
What is a deposit slip?
400
You paid cash on account to Expo Inc. using EFT. The two accounts affected in this transaction are _____________ and ______________.
What are Accounts Payable--Expo Inc. and Cash?
400
A check that cannot be processed because the maker has made it invalid.
What is a voided check?
500
A check that has been paid by the bank.
What is a canceled check?
500
An endorsement consisting only of the endorser's signature.
What is a blank endorsement?
500
The three types of endorsements commonly used are: _________, ___________, and ____________.
What are blank, special, and restrictive?
500
You paid cash to replenish a petty cash fund, $50; supplies, $35; miscellaneous expense, $14; and cash short, $1. The four accounts affected in this transaction are:
What are Supplies, Cash Short and Over, Miscellaneous Expense, and Cash?