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- Match the following words with their definitions by entering the correct number in the spaces below. 1.deposit ticket 2.ATM 3.check 4.bank statement 5.blank endorsement _____ a.A document ordering a bank to pay cash from a depositors account. _____ b.An endorsement where the payee simply signs the back of the check, making the check payable to any bearer. _____ c.Automated teller machinea machine used by depositors to make withdrawals or deposits at any time. _____ d.A statement of account issued by a bank to each depositor once a month. _____ e.A form showing a detailed listing of items being deposited.Direction: Match the following bank accounts to its usage or description listed below. Write your answer on the blank before the number. Choose from the following Savings Account Current Account Time Deposit UITF _________________1. The simplest form of bank account. _________________2. A bank account which cannot be withdrawn until the contract period has ended. _________________3. It is a type of bank account that pooled funds managed by experts to ensure high yield and quality returns. _________________4. It allows a limited number of withdrawals only. _________________5. It makes saving very rewarding. _________________6. It allows numerous withdrawals with a large sum of money. _________________7. The investors earn through the increase in fair value of the pooled fund. _________________8. The investors earn through interest while saving. _________________9. This bank account comes with atm or passbook. ________________10. This is evidence by a…IV. Direction: Determine if the bank transaction is to be shown on the debit side or credit side of bankstatement. Write DEBIT or CREDIT on the blank before the number. __________1. NSF check.__________2. Interest on depositor’s account.__________3. Cancelled check.__________4. Deposits made by depositor.__________5. Check booklet fee.__________6. Payment made by debtor to the account of depositor.__________7. Notes collected by bank for the account of depositor.__________8. Bank service charge.__________9. Check from customer honored by bank._________10. Check issued by depositor honored by bank
- How will the following items affect the pass book balance? Direct payment by customer into the back account. Interest on investment collected by the bank.How do you record a debit card purchase in Quickbooks? A. Use the Enter Bills window to enter the information, then immediately go to the Pay Bills window and prepare th check. B. Prepare a journal entry to debit the expense account of the purchase and credit cash. C. Wait until you do the bank reconciliation and enter one journal entry for all of your debit card purchases. D. Using the Write Checks window, in the No. field,type “Debit.” Enter the vendor name and amount in the check area.In the normal operation of business, you receive a check from a customer and deposit it into your checking account. With your bank statement, you are advised that this check for $775 is "NSF." The bank also informs you that due to the amount of activity on your business account the monthly service charge is $75. During a bank reconciliation, you will Oa. add both values to balance according to bank Ob. add both values to balance according to books Oc. subtract both values from balance according to books Od. subtract both values from balance according to bank
- For the following question, reconcile the bank statement and check register. Would they need to make an adjustment or does everything reconcile? Sylvia’s checkbook balance on July 31 is $389.32. The information on her bank statement is given below. The outstanding checks, unrecorded deposits, and unrecorded ATM transactions are listed here also. From this information will her account reconcile? Bank statement: $434.30; Interest: $0.79; Service charge: $2.75 Outstanding checks: #911: $53.29; #912: $31.16; #913: $20.04; #920: $11.42; #923: $24.50; #925: $16.90; #930: $33.30; #932: $8.70; #933: $10.55. Unrecorded deposits ATM: 7/30: $183.52; 7/31: $69.40. Unrecorded ATM withdrawals: 7/30: $40.00; 7/31: $50.00 Bank Statement Reconcile Amount: Check Register Reconcile Amount:Complete the following to record office expenses that Mookie The Beagle™ Concierge incurred and paid by check. Create a Check. Select Create (+) icon > Check Add Vendor Payee: Bichotte Supplies Select Payment Date: 01/13/2022 Select Bank Account: Checking Select Category: Office Supplies & Software (Expenses) Enter Description: Office Supplies Enter Amount: 84.00 What is the Total for the Check? (Answer this question in the table shown below. Round your answer 2 decimal places.) Select Save and close View the Transaction Journal for the Check. From the Navigation Bar, select Expenses From the Expense Transactions List, select the Bichotte Supplies Check just entered From the bottom of the Bichotte Supplies Check, select More > Transaction Journal What are the Account and Amount Debited? (Answer this question in the table shown below. Round your answer 2 decimal places.) What are the Account and Amount Credited? (Answer this question in the table shown…Give typing answer with explanation and conclusion He writes a draft from his personal bank account payable to the power company. This draft is known as a(n) _____. certified check accord and satisfaction promissory note check non-negotiable instrument
- In sap, Which of the following outgoing payments will not require manual entry of bank account?a. Cashb. Credit Cardc. Checkd. Bank TransferChecking accounts are a common form of deposits for banks. Assume that Surety Storage has a checking account at Ada Savings Bank. What type of account (asset, liability, owner’s equity, revenue, expense, drawing) does the account balance of $11,375 represent from the viewpoint of (a) Surety Storage and (b) Ada Savings Bank?The bank statement would function as the primary source document for which two of the following transactions? Select more than one: a. Monthly bank fees b. Sale made to a customer, using his debit card c. Interest received on current account balance d. Purchase from a supplier, by cheque