cash control systems. 2 12. checking accounts pages 119 - 121 checking account– a bank account...
TRANSCRIPT
Cash Control Systems
2
Pages 119 - 121
Checking account– a bank account from which payments can be ordered by a depositor
Endorsement– a signature or stamp on the back of a check transferring ownership
Blank endorsement– only consist of endorser’s signature
Special endorsement– an endorsement indicating a new owner of the check
Restrictive endorsement – an endorsement restricting further transfer of a check’s ownership
3 LESSON 5-1
page 120
Blank EndorsementBlank Endorsement
Special EndorsementSpecial Endorsement
Restrictive EndorsementRestrictive Endorsement
4
Page 121
1. Write the date (month, day, year)• Postdated check – a check with a future date on it
2. Write to whom the check is to be paid3. Write the amount in figures following $4. Write the amount in words before the word Dollars5. Write the purpose of the check following the word For6. Sign the check
5
Page 121
7. Write the amount of the check8. Write the date (month, day,
year)9. Write to whom the check is to
be paid10. Record the purpose of the
check11. Write the amount of the check
following amt this check12. Calculate the new checking
account balance
6 LESSON 5-1
1. Record the date.
2. Write the word VOID in the Account Title column
3. Write the check number.
4. Place a check mark in the Post. Ref. column.
5. Place a dash in the Cash Credit column.
page 122
1122
3344
55
7
Pages 124 - 127
Bank statement– a report with deposits, withdrawals, and bank balances sent to a depositor by a bank
Code of conduct – a statement that guides the ethical behavior of a company
8 LESSON 5-2
5.Bank Statement Balance
1122
33
44
55
66
77
88
99
9.Adjusted Bank Balance
page 125
2.Check Stub Balance
10. Compare Adjusted Balances
1.Date
3.Service Charge4.Adjusted Check Stub Balance
6.Outstanding Deposits7.Subtotal8.Outstanding Checks 1010
9 LESSON 5-2
page 126
10 LESSON 5-2
1.Date. Write the date.
page 127
11 33
44
August 31. Received bank statement showing August bank service charge, $8.00. Memorandum No. 3.
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2. Debit. Write the title of the account to be debited. Record the amount debited.
3. Credit. Record the amount credited.
4. Source document. Write the source document number.
11
Pages 129 - 132
Dishonored check– a check that a bank refuses to pay
Electronic funds transfer (EFT) – a computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents
Debit card – a bank card that automatically deducts the amount of a purchase from the checking account
12 LESSON 5-3
page 129
13 LESSON 5-3
1.Date. Write the date.
page 130
11
33
44
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. Debit. Write the title of the account to be debited.
3. Credit. Write the amount credited.
4. Source document. Write the source document number.
22
14 LESSON 5-3
1.Date. Write the date.
page 131
September 2. Paid cash on account to Kelson Enterprises, $350.00, using EFT. Memorandum No. 10.
11 33
44
22
2. Debit. Write the title of the account to be debited. Record the amount debited.
3. Credit. Record the amount credited.
4. Source document. Write the source document number.
15 LESSON 5-3
1.Date. Write the date.
page 132
September 5. Purchased supplies, $24.00, using debit card. Memorandum No. 12.
11 33
44
22
2. Debit. Write the title of the account to be debited. Record the amount debited.
3. Credit. Record the amount credited.
4. Source document. Write the source document number.
16
Pages 134 - 136
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
17 LESSON 5-4
1.Date. Write the date.
page 134
August 19. Paid cash to establish a petty cash fund, $100.00. Check No. 8.
11 33
44
22
2. Debit. Write the title of the account to be debited. Record the amount debited.
3. Credit. Record the amount credited.
4. Source document. Write the source document number.
18 LESSON 5-4
1.Date. Write the date.
page 136
11
44
33
August 31. Paid cash to replenish the petty cash fund, $30.00: miscellaneous expense, $20.00; advertising, $10.00. Check No. 12.
22
4. Source document. Write the source document number.
3. Credit. Record the amount credited.
2. Debit. Write the title of the first account to be debited. Write the amount to be debited. Write the title of the second account to be debited. Record the amount to be debited.