Lesson 5-1

Report
Checking Accounts-A bank account from which
payments can be ordered by a depositor
- must provide a signature on a signature card for
the bank records
Check- a business form ordering a bank to pay cash
from a bank account
Deposit slip – prepared each time cash or checks
are placed in a bank account, recorded on a check
stub
Blank Endorsement – only
endorser’s signature
If lost or stolen, can be cashed by
anyone
Should be used only at bank
Special/Full Endorsement – an
endorsement indicating a new owner
of a check- (Pay to the order of)
Restrictive Endorsement –
restricting further transfer of a
check’s ownership
Limit’s use of the check (for deposit
only)
1
2
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.
5
6
6. Calculate the new checking
account balance.
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.
1
3
2
1.
2.
3.
4.
5.
4
Record the date in the Date column.
Write the word VOID in the Account Title column
Write the check number in the Doc. No. column.
Place a check mark in the Post. Ref. column.
Place a dash in both the Debit and Credit columns.
5
Text Book
Work Book
Work Together
Page 123
Page 93
On Your Own
Page 123
Page 94
LESSON 5-1
8
Endorsing and Writing Checks
OYO 5-1
Textbook
Workbook
Page 123
Page 94
LESSON 5-2
9
Reconciling a bank statement and recording a
bank service charge.
LESSON 5-2
10
Bank Reconciliation – verifying that information on a
bank statement and a checkbook are in agreement
**This is important to proving Cash**
Bank Statement – A report of
deposits, withdrawals and
bank balances sent to a
depositor by a bank.
Canceled Check – a
check that was
processed by the bank
LESSON 5-2
13
Service Charge – bank fee, usually NOT recorded in
business records prior to receiving statement
Outstanding deposits – deposits recorded but do not appear
on a bank statement
Outstanding Checks – checks written but do not appear on
a bank statement
LESSON 5-2
14
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
1
2
5
6
7
4
8
9
10
1
2
3
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.
August 31. Received bank statement showing August bank service
charge, $8.00. Memorandum No. 3.
2
1
4
3
1.
2.
3.
4.
Write the date.
Write the title of the account debited. Record the debit amount.
Write the title of the account credited. Record the credit amount.
Write the source document number in the Doc. No. column.
LESSON 5-2
17
Text Book
Work Book
Class work - WT
Page 128
Page 95
Homework - OYO
Page 128
Page 96
LESSON 5-2
18
Dishonored Check – a check that a bank refuses to pay. The bank
charges the business a fee for this.
Occurs when:
1.
a person who wrote the check has insufficient funds in their
account
2.
The check appears to be altered
3.
Signature on check does not match one on file at bank
4.
Check is postdated
5.
The person who wrote the check has stopped payment on the
check
Electronic Banking
page 129
1
2
3
22
LESSON 5-3
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.
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.
2
4
1
3
1.
2.
3.
4.
Write the date.
Write the title of the account debited. Write the debit amount.
Write the title of the account credited. Write the amount credited.
Write the source document number in the Doc. No. column.
23
LESSON 5-3
EFT – Electronic funds transfer – a computerized
cash payments system that transfers funds
without the use of checks, currency or other paper
documents, Source Document is a Memorandum
Debit Card – A bank card that automatically
deducts the amount of a purchase from a checking
account, Source Document is a Memorandum
LESSON 5-3
24
page 131
September 2. Paid cash on account to Kelson Enterprises,
$350.00, using EFT. Memorandum No. 10.
2
1
4
3
1.
2.
3.
4.
Write the date.
Write the title of the account debited. Record the amount debited.
Write the title of the account credited. Record the amount credited.
Write the source document number in the Doc. No. column.
25
LESSON 5-3
page 132
September 5. Purchased supplies, $24.00, using debit card.
Memorandum No. 12.
2
1
4
3
1.
2.
3.
4.
Write the date.
Write the title of the account debited. Record the amount debited.
Write the title of the account credited. Record the amount credited.
Write the source document number in the Doc. No. column.
26
LESSON 5-3
page 133



27
dishonored check
electronic funds transfer
debit card
LESSON 5-3
Petty Cash: An amount of cash
kept on hand and used for making
small payments
Petty Cash Slip: A form showing
proof of a petty cash payment
August 19. Paid cash to establish a petty cash fund, $100.00.
Check No. 8.
2
1
4
3
1.
2.
3.
4.
Write the date.
Write the title of the account debited. Record the amount debited.
Write the title of the account credited. Record the amount credited.
Write the source document number in the Doc. No. column.
August 31. Paid cash to replenish the petty cash fund, $30.00:
miscellaneous expense, $20.00; advertising, $10.00. Check No. 12.
2
1
4
3
1. Write the date.
2. Write the title of the first account debited. Write the debit amount.
Write the title of the second account. Record the debit amount.
3. Write the title of the account credited. Record the credit amount.
4. Write the source document number in the Doc. No. column.
LESSON 5-4
32
page 138


petty cash
petty cash slip
LESSON 5-4
33

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