Suppose that Lena, who has an account at SunTrust Bank, writes a check for $140 to Jose, who has an account at National City Bank. Use following the T-account for SunTrust Bank to show how it is affected after the check clears. Assets Liabilities

can you cash a check from an equity reserve account

How did you calculate the deposits and checks outstanding

You are the training director for tellers at a large local bank. As part of a new training program you are developing, you have given your trainees this "sample" check register. It is filled out but some of the balances are incorrect. Check Number Date 4/7 4/14 4/16 1208 4/17 4/21 PLEASE BE SURE TO DEDUCT ANY BANK CHARGES THAT APPLY TO YOUR ACCOUNT. Description of Transaction To: Deposit For: To: Mario's Market Debit Card For: To: ATM Withdrawal For: To: Bargain Properties For: To: Electronic Payroll Deposit For: Amount of payment or withdrawal (-) 48 65 135 00 870 00 ✓ Amount of Deposit or interest (+) 755 80 1,350 00 Balance Forward Bal. Bal. Bal. Bal. 469 30 1,225 10 1,176 45 996 45 181 45 Bal. 1,531 45 You instruct your trainees to find and correct the errors in the balances. If your trainees do so, what should the corrected final balance be (in $)? $

When a drawee bank certifies a check, it charges the drawer's account. with the amount of the check and transfers those funds to its own certified check account. within a business day immediately within 48 hours whenever the drawer requests

An adjusting entry is required for: Select one© a. Deposit în transit.O b. Outstanding checksO c. Bank errorsO d. Collection of a note by the bank

Now, with Jacques’s latest bank statement and his check register or ledger in hand, you can examine the documents. Fourth State Bank of San Francisco, CA Statement of Account Jacques Smythe       June 20XX 550 Angel Street         San Francisco, CA       Account 348596 Date Description Subtractions Additions Balance 6-01 Previous balance     1,446.50 6-01 Deposit   300.00 1,746.50 6-03 Check 300 700.00   1,046.50 6-04 Check 301 350.00   696.50 6-05 ATM withdrawal 25.00   671.50 6-05 Deposit   75.00 746.50 6-11 ATM withdrawal 35.15   711.35 6-15 Deposit   300.00 1,011.35 6-18 Check 302 210.00   801.35 6-21 ATM withdrawal 47.65   753.70 6-22 Deposit   105.00 858.70 6-24 Check 303 70.00   788.70 6-26 ATM withdrawal 50.00   738.70 Jacques’s Account Ledger Date Transaction Description Deposit Withdrawals Balance Jun-01 Deposit - Payroll $300.00   $1,746.50 Jun-03 Check 300 - Rent   $700.00 1,046.50 Jun-04 Check 301 - Car payment…

A check that has a future date instead of the actual date; it should not be deposited until the date on the check, is known as ____________.         Electric Funds Transfer (EFT)         Check 21         Bank card         Post dated check

6 Ted owns Ted's Blankets. Ted asks you to explain how he should treat the following reconciling items when reconciling the company's bank account. The bank charged to our account a check written by another company. A debit memorandum for a bank service charge. Outstanding checks. A deposit in transit.

How do you record a debit card purchase in Quickbooks? A. Use the Enter Bills window to enter the information, then immediately go to the Pay Bills window and prepare th check. B. Prepare a journal entry to debit the expense account of the purchase and credit cash. C. Wait until you do the bank reconciliation and enter one journal entry for all of your debit card purchases. D. Using the Write Checks window, in the No. field,type “Debit.” Enter the vendor name and amount in the check area.