Banking Basics
The form you fill out when putting currency and coins into your account.
Deposit Slip
The specific asset account used for making small, incidental payments.
Petty Cash
This endorsement uses only the authorized signature of the payee.
Blank Endorsement
The report sent by the bank showing all monthly activity.
Bank Statement
How many hearts does an octopus have?
3
When performing a bank reconciliation, there are certain items that are added to or subtracted from the Bank Statement Balance and others that are applied to the Checkbook Balance. Name one item subtracted from the bank statement balance and one item subtracted from the checkbook balance to reach the final adjusted balances.
Bank Statement: Outstanding Checks
Checkbook: Bank Service Charge
A check that has a date in the future and cannot yet be cashed.
Postdated Check
The journal entry to establish a brand new petty cash fund.
Debit Petty Cash, Credit Cash
The type of endorsement that begins with "Pay to the order of."
Special Endorsement
The source document used when funds are moved electronically (EFT).
Memorandom
Which video game character is blue and runs at supersonic speeds?
Sonic the Hedgehog
What you must write across a check if you make a mistake while writing it.
VOID
The account debited when the actual cash on hand is less than the records say.
Cash Short and Over
This endorsement includes "For Deposit Only" to prevent theft.
Restrictive Endorsement
A check that the bank refuses to pay, often due to "NSF."
Dishonored Check (NSF Check)
What is the only letter in the alphabet that does not appear in any of the 50 U.S. state names?
Q
A card that deducts money from your account immediately at the point of sale.
Debit Card
This is the frequency with which a petty cash fund is typically replenished.
At the end of the month
Which endorsement is the least secure if a check is lost or stolen?
Blank Endorsement
The form signed by a person authorized to sign checks for a business.
Signature Card
Which mammal is the only one that is actually capable of true flight?
The Bat
A check that has been processed and paid by the bank.
Cancelled Check
The internal form filled out every time money is taken from the petty cash box.
Petty Cash Slip
This happens to the ownership of a check once it is endorsed.
Transfer of ownership
The classification of the "Cash Short and Over" account.
Expense
What is the only NFL team that has a helmet in their helmet logo?
The Las Vegas Raiders