Chapter 5 Vocab
This type of check is when a bank refuses to cash the check due to the account of the person who wrote the check having insufficient funds.
What is a dishonored check
The length of time for which a business summarizes and reports financial information.
What is a fiscal period
This endorsement has no additional instructions or limitations and can be cashed by anyone.
What is a blank endorsement
These two accounts commonly have adjustments made to them.
What is supplies and prepaid insurance
A statement that guides the ethical behavior of a company and its employees.
What is a code of conduct
An amount of cash kept on hand and used for making small payments is
What is petty cash
What is net loss
For deposit only to the account of ________ is what type of endorsement?
What is restrictive
This type of line signifies that there will be no further adjustments in that specific work sheet.
This number on a check stub is to help match it with the associated check.
What is a check number
A report of deposits, withdrawals, and bank balances sent to a depositor by a bank.
What is a bank statement
Charges recorded on a work sheet to update general ledger accounts at the end of a fiscal period.
What are adjustments
An endorsement restricting further transfer of a check's ownership.
The third line at the very top of a work sheet is for this.
What is the date
This word means a check that has been "disabled".
What is void
A report of deposits, withdraws, and bank balances sent to a depositor by a bank is called a what?
What is a bank statement
A financial statement that reports assets.
What is a balance sheet?
Pay to the order of _____ is an example of what type of endorsement.
What is special
This is the first step in preparing a worksheet.
What is writing the heading
This account is used for various expenses.
What is a miscellaneous expense
A computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents.
What is electronic funds transfer
A financial statement showing the revenue and expenses for a fiscal period is called what?
What is a income statement?
An endorsement indicating a new owner of a check.
What is a special endorsement
If there is a net income, this column in the income statement has the net income listed.
What is the debit column
A bank card that automatically deducts the amount of a purchase from the checking account of the cardholder.
What is a debit card