CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 1 LESSON 5-1 TERMS code of conduct - A...
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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 1 LESSON 5-1 TERMS TERMS code of conduct - A statement that guides the ethical behavior of a company and its employees 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 - An endorsement consisting only of the endorser’s signature special endorsement - An endorsement indicating a new owner of a check restrictive endorsement – an endorsement restricting further transfer of a check’s ownership postdated check – A check with a future date page 123
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Transcript of CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 1 LESSON 5-1 TERMS code of conduct - A...
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
1
LESSON 5-1
TERMSTERMS code of conduct - A statement that guides the ethical behavior of a
company and its employees 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 - An endorsement consisting only of the endorser’s
signature special endorsement - An endorsement indicating a new owner of a
check restrictive endorsement – an endorsement restricting further transfer of a
check’s ownership postdated check – A check with a future date
page 123
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
TERMS, Continued…TERMS, Continued…
bank statement – A report of deposits, withdrawals, and bank balances sent to a depositor by a bank
dishonored check – A check the bank refuses to pay electronic funds transfer – 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 of the cardholder
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LESSON 5-1
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-1LESSON 5-1
Checking Accounts
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 5-1
DEPOSITING CASHDEPOSITING CASH page 119
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 5-1
DEPOSIT RECORDED ON DEPOSIT RECORDED ON A CHECK STUBA CHECK STUB page 119
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 5-1
ENDORSEMENTSENDORSEMENTS page 120
Blank EndorsementBlank Endorsement
Special EndorsementSpecial Endorsement
Restrictive EndorsementRestrictive Endorsement
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 5-1
5. Write the amount of the check.
2. Write the date of the check.
3. Write to whom the check is to be paid.
4. Record the purpose of the check.
1. Write the amount of the check.
6. Calculate the new checking account balance.
COMPLETED CHECK STUBCOMPLETED CHECK STUB page 121
1122
33
44
5566
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 5-1
COMPLETED CHECKCOMPLETED CHECK
7. Write the date.
page 121
1111 1212
1010
9988
77
10. Write the amount in words.
8. Write to whom the check is to be paid.
9. Write the amount in figures.
11. Write the purpose of the check.
12. Sign the check.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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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.
RECORDING A VOIDED CHECKRECORDING A VOIDED CHECK page 122
1122
3344
55
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-2LESSON 5-2
Bank Reconciliation
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 5-2
BANK STATEMENTBANK STATEMENT page 124
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 5-2
5.Bank Statement Balance
BANK STATEMENT RECONCILIATIONBANK STATEMENT RECONCILIATION
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
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 5-2
1. Write Service Charge $8.00 on the check stub under the heading “Other.”
RECORDING A BANK SERVICE CHARGE RECORDING A BANK SERVICE CHARGE ON A CHECK STUBON A CHECK STUB page 126
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2. Write the amount of the service charge in the amount column.
3. Calculate and record the new subtotal on the Subtotal line.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 5-2
1. Write the date.
JOURNALIZING A BANK SERVICE JOURNALIZING A BANK SERVICE CHARGECHARGE page 127
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August 31. Received bank statement showing August bank service charge, $8.00. Memorandum No. 3.
2. Write the title of the account debited. 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.
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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-3LESSON 5-3
Dishonored Checks and Electronic Banking
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 5-3
RECORDING A DISHONORED CHECK RECORDING A DISHONORED CHECK ON A CHECK STUBON A CHECK STUB
1. Write Dishonored check $105.00 on the line under the heading “Other.”
page 129
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2. Write the total of the dishonored check in the amount column.
3. Calculate and record the new subtotal on the Subtotal line.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 5-3
JOURNALIZING A DISHONORED JOURNALIZING A DISHONORED CHECKCHECK page 130
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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. Write the title of the account debited. Write the debit amount.
3. Write the title of the account credited. Write the amount credited.
4. Write the source document number in the Doc. No. column.
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1. Write the date.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 5-3
JOURNALIZING AN ELECTRONIC FUNDS JOURNALIZING AN ELECTRONIC FUNDS TRANSFERTRANSFER page 131
September 2. Paid cash on account to Kelson Enterprises, $350.00, using EFT. Memorandum No. 10.
2. Write the title of the account debited. Record the amount debited.
3. Write the title of the account credited. Record the amount credited.
4. Write the source document number in the Doc. No. column.
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33
1. Write the date.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 5-3
JOURNALIZING A DEBIT CARD JOURNALIZING A DEBIT CARD TRANSACTIONTRANSACTION page 132
September 5. Purchased supplies, $24.00, using debit card. Memorandum No. 12.
2. Write the title of the account debited. Record the amount debited.
3. Write the title of the account credited. Record the amount credited.
4. Write the source document number in the Doc. No. column.
11 44
22
33
1. Write the date.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 5-3
TERMS REVIEWTERMS REVIEW
dishonored check electronic funds transfer debit card
page 133
