Chapter 5 - Accounting

Front

If any kind of error is made in preparing a check what should be done?

Back

VOID should be written on the check, VOID should be written on the check stub, a new check should be prepared.

Front

Which of the following is NOT a reason bank's records and a depositor's records may differ? Outstanding checks may be recorded in the depositor’s records but not on the bank statement; Outstanding deposits may be recorded in the depositor‘s records but not on the bank statement; A depositor may have made math or recording errors.

Back

The depositor recorded the wrong check number in their records

Front

When bank service charge is journalized, which account is debited?

Back

miscellaneous expense

Front

When a dishonored check is journalized which two accounts are affected? Options: accounts payable and cash, miscellaneous expense and cash, accounts receivable and cash, accounts receivable and miscellaneous expense

Back

accounts receivable and cash

Front

What is a bank account from which payments can be ordered by a depositor?

Back

checking account

Front

When cash is short, the entry to replenish petty cash includes a _______

Back

debit to Cash Short and Over

Front

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

Back

deposit slip

Front

An endorsement on the back of a check consisting only of a signature is a(n)_________________

Back

blank endorsement