1. DEFINITION A report of deposits, withdrawals, and bank balances sent to a depositor by a bank.
BANK STATEMENT

2. DEFINITION An endorsement consisting only of the endorser’s signature.
BLANK

3. DEFINITION A bank account from which payments can be ordered by a depositor.
CHECKING ACCOUNT

4. DEFINITION A statement that guides the ethical behavior of a company and its employees.
CODE OF CONDUCT

5. DEFINITION A bank card that, when making purchases, automatically deducts the amount of the purchase from the checking account of the cardholder.
DEBIT CARD

6. DEFINITION A check that a bank refuses to pay.
DISHONORED CHECK

7. ELECTRONIC FUNDS TRANSFER
DEFINITION A computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents.
ELECTRONIC FUNDS TRANSFER

8. DEFINITION A signature or stamp on the back of a check transferring ownership.
ENDORSEMENT

9. DEFINITION An amount of cash kept on hand and used for making small payments.
PETTY CASH

10. DEFINITION A form showing proof of a petty cash payment.
PETTY CASH SLIP

11. DEFINITION A check with a future date on it.
POST DATED CHECK

12. RESTRICTIVE ENDORSEMENT
DEFINITION An endorsement restricting further transfer of a check’s ownership.
RESTRICTIVE ENDORSEMENT

13. DEFINITION An endorsement indicating a new owner of a check.
SPECIAL ENDORSEMENT

14. Ownership of a check can or can not be transferred.

15. Voided checks should be recorded in the _______.
JOURNAL

16. Using a memorandum as the source document for a dishonored check is an application of the accounting concept _______ _______.
OBJECTIVE EVIDENCE

17. The petty cash fund is a/an _______ (account classification) with a normal ______ balance.
ASSET
DEBIT

18. When petty cash is replenished, _____ is debited and Cash is credited.
EACH ACCOUNT THAT IS BEING REPLENISHED

19. A check with a _____ endorsement can be cashed by anyone who has the check.
BLANK

20. An _______ check is one that has been issued but not yet reported on a bank statement by the bank.
OUTSTANDING

21. A bank requires that the signature of the person authorized to sign checks be on the ________ card.

22. The source document for an electronic funds transfer is a ____________.
MEMORANDUM

23. The source document for a debit card purchase is a _______.
MEMORANDUM

24. Each time cash or checks are placed in a bank account, the customer prepares a _______.
DEPOSIT SLIP

25. An endorsement on the back of a check consisting only of a signature is a ________ endorsement.
BLANK

26. A lost check with a blank endorsement on it can be cashed by ________.
ANYONE WHO HAS
THE CHECK

27. An endorsement on the back of a check consisting of the words “Pay to the order of” and a new check owner’s name is a _________ endorsement.
SPECIAL

28. An endorsement on the back of a check indicating that the check is to be accepted for deposit only is a _______ endorsement.
RESTRICTIVE

29. What do you do if any kind of error is made in preparing a check?
PREPARE A NEW CHECK
WRITE “VOID” ON THE CHECK STUB
WRITE “VOID” ON THE CHECK
ALL OF THE ABOVE

30. The entry to establish a $200 Petty Cash fund is: Debit _______ for $200 Credit _______ for $200

31. A petty cash fund is always replenished _______.
AT THE END OF THE MONTH

32. The bank statement shows a checking account balance of $5,500
The bank statement shows a checking account balance of $5,500. There are outstanding checks totaling $600, and outstanding deposit of $400, and a bank service charge of $15. The Cash account balance should be ________.

33. $5,300 $5,500 – = $5,300 Service Charge is already on bank statement so no math is calculated. You record that amount in your register.