chapter 5 accounting Flashcards
a business form ordering a bank to pay cash from a bank account
check
a back account from which payments can be ordered by a depositor
checking account
opening a checking account
signature card & deposit slip
a bank form that lists the checks, currency, and coins an account holder is adding to the bank account
deposit slip
a signature or stamp on the back of the check transferring ownership
endorsement
3 types of commonly used endorsements
blank endorsement
special endorsement
restrictive endorsement
an endorsement consisting only of the endorsers signature
blank endorsement
a special endorsement is sometimes known as
endorsement in full
an endorsement restricting further transfer of a checks ownership
restrictive endorsement
a report of deposits, withdrawals, and bank balances sent to a depositor by a bank
bank statement
a check that a bank refuses to pay
dishonored check
a check dishonored by the bank because of insufficient funds in the account of the maker of the check
non-sufficient funds check (nsf check)
a computerized cash payment system that transfers funds without the use of checks, currency or other paper documents
electric funds transfer
a bank card that automatically deducts the amount of a purchase from the checking account of the cardholder
debit card
an amount kept on hand for making small payments
petty cash
