1. It is a bank account wherein the depositor can draw checks. a. Drawing account b. Savings account c. Current account d. Past account 2. A deposit is shown on which part of a bank statement? a. Debit column b. Credit column c. Bottom part d. Everywhere 3. It is a written order directing a bank to pay money as instructed. a. Check b. Bank statement c. Deposit slip d. Bank instruction

can you cash a check from an equity reserve account

Select the banking terms from drop down to match with the correct definition. Definitions   Banking Terms a.   A check that has been paid by the bank on behalf of the depositor.   select a banking term                                                           Automated teller machine (ATM)Electronic funds transfer (EFT)MakerDepositorDebit memorandumPayeeBank statementPayerCredit memorandumDeposit slipCheckCanceled checkSignature cardEndorsement b.   A disbursement system that uses wire, telephone, or computers to transfer cash balances from one location to another.   select a banking term                                                           EndorsementBank statementDeposit slipDebit memorandumCheckDepositorElectronic funds transfer (EFT)PayeeSignature cardPayerCanceled checkCredit memorandumAutomated teller machine (ATM)Maker c.   A document provided by the bank that requires the signature of all authorized signers of checks.   select a banking term…

Which one of the following is true of a signature​ card?         A. It is the same as a deposit receipt and acts as a proof of the deposit transaction.   B. It can be used as a debit card.   C. It can only be used for bank accounts of​ individuals, not for the bank accounts of businesses.   D. It shows each authorized​ person's signature for a bank account.

After preparing a bank reconciliation, journal entries are necessary to record Bank service charges Deposits in transit Outstanding checks Both B and C are correct A, B, and C are correct

Question 11: Which statement about making deposits is TRUE? Answer: A. B. C. D. O Funds received through sales are held in Savings, and you must move them to Checking. Funds received through sales are held in Undeposited Funds, and you must move them to your bank account. O Funds received through sales are held in Accounts Payable, and you must move them to your bank account. Funds received through sales are held in Accounts Receivable, and you must move them to your bank account.

Assign the letter to indicate whether the following items would be added from the company's books or the bank statement during the construction of a bank reconciliation. Clear All Charges for some other company's safe deposit box were posted to your account A $1,000 note from one of Added to the bank your customers was statement balance collected by the bank Added the company's Interest revenue earned by books the note above EFT deposit from a customer

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Which one of the following would not appear on a bank statement for a checking account? a.Deposits b.Service charges c.Outstanding checks d.Interest earned

On the Excel worksheet are the T- accounts for cash and other accounts need to record the bank reconciliation. Also, the format for the bank reconciliation is provided. Complete the bank reconciliation, using formulas when possible.