Bank Statements
What is a bank statement?
A report of deposits, withdrawals, and bank balances sent to a depositor by a bank.
What is the first step in doing a reconciliation?
Compare deposits on check register to bank statement.
What is the first step for journalizing a bank sevice charge?
Enter in SmartFusion / check register.
What is a school bookkeeper's favorite horror movie?
The Unreconciled Statement
How do bank fees affect the bank reconciliation?
Deduct book/check register balance.
What is a bank statement verifying?
That information on that bank statement and a checkbook is in agreement.
What is the document of proof for the bank service charges?
Bank statement.
Is Dr. McDonald part of a Sorority?
Yes, Alpha Kappa Alpha (AKA).
What can cause lack of agreement between bank statement and check register?
Outstanding deposits or checks or errors.
When do you complete the check register?
Daily / as activity occurs.
What is the last step for journalizing a bank service charge?
Withhold amount from monthly receipt to D.O.
What activity is covered in a reconciliation?
What occurred during the month being reconciled.
One common error is outstanding checks or deposits may be recorded on the check register but not where?
On the bank statement.
What is a service charge labeled as on a bank statement?
SC / Bank fee.
If a bank service charge is relatively small and occur only once do you need to record it?
Yes.
What is this years District theme?
It's a new day in Marlboro: Where hope rises, the sun shines.
OR
1 Team, 1 Mission, Brighter Futures
Where/what do you do if a check/deposit is not on the bank statement?
Record in outstanding checks / deposit section.
What do you have to do to get to the adjusted check stub balance?
You have to subtract the bank's service charge from the balance on the check stub.
A bank service charge is a ____________________?
Cash payment for which no check is written.
When did MCHS open?
Fall of 1989.