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CHAPTER 5 By: Ashley Kea. KEY POINTS  Depositing Cash  Blank Endorsement, Special Endorsement, and Restrictive Endorsement  Check Stub and Check 

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Presentation on theme: "CHAPTER 5 By: Ashley Kea. KEY POINTS  Depositing Cash  Blank Endorsement, Special Endorsement, and Restrictive Endorsement  Check Stub and Check "— Presentation transcript:

1 CHAPTER 5 By: Ashley Kea

2 KEY POINTS  Depositing Cash  Blank Endorsement, Special Endorsement, and Restrictive Endorsement  Check Stub and Check  Recording a Voided Check  Bank Statement  Journalizing Bank Service Charge  Dishonored Check on Check Stub  Petty Cash

3 IMPORTANT VOCABULARY  Checking Account: business form ordering a bank to pay cash from a bank account  Postdated Check: future date  Bank Statement: report of deposits, withdrawals, and bank balances sent to depositor by a bank  Dishonored Check: check that a bank refuses to pay  Debit Card: card that automatically deducts the amount of a purchase  Petty Cash: amount of cash kept on hand Petty Cash Slip: form showing proof of a petty cash payment  Endorsement: a signature or stamp on the back of check transferring ownership Blank Endorsement: only signature Special Endorsement: New owner Restrictive Endorsement: restricting further transfer

4 CHECK STUB  A check stub is a business’s record of each check written for a cash payment transaction

5 ENDORSEMENTS  Bank Endorsement  Special Endorsement  Restrictive Endorsement

6 RECORDING A VOIDED CHECK  A check with errors must be marked to that others will know that it is not to be used  VOID is written in large letters across both the check and its stub


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