1. BUSINESS HIGH SCHOOL-ACCOUNTING I
Outstanding Deposits
Signature Card
Writing Checks
Reconciling the Bank Statement
Deposits
Checking
Accounts
Outstanding Checks
Endorsements
Banking Procedures
Chapter 11
Bank Service Charges
ABA Number
Postdated Check
Electronic Funds Transfer
Special Banking Procedures
NSF Check
Automated Teller Machine
Stop Payment Order
Accounting 1 Essential Learning Expectations: Chapter 11:
A checking account allows a person or business to deposit cash in a bank and to write checks against the account balance.
A signature card contains the signature(s) of the person(s) authorized to write checks on an account.
There are three types of endorsements.
Reconciling the bank statement is the process of determining any differences between the bank statement and the checkbook.
Banks have a number of special procedures in place to deal with the three major problems associated with checks.
Content Vocabulary:
Endorsement
Canceled Check
NSF Check
Outstanding Checks
Outstanding Deposits
Postdated Check
Reconciliation
Stop Payment Order