| A | B |
|---|
| bank on which a check is drawn | drawee |
| business or person who owns a checking account | drawer |
| business or person who recieves a check | payee |
| check not yet paid by the bank | outstanding check |
| check paid by the bank | canceled check |
| form of recording deposits and checks | check register |
| report showing the condition of the bank account | bank statement |
| statement showing how the check book balance were brought into agreement | bank reconciliation |
| A restrictive endorsment on the back of a check includes the words | For Deposit Only |
| The total of the Cash In column on a cashbook should equal the total of the | Reciepts column |
| How does the balance in the checkbook compare to the balance on a bank statement? | The balances are usually different |
| At the end of the month, the cashbook is totaled and | balanced |
| When listing checks on a deposit slip, include either the drawer's name or the | American Bankers Association (ABA) number |
| Outstanding check should be | subtracted from the bank balance |
| If you make a mistake on a check, you should | void the check |
| A check written for office supplies should be recored in which columns of the cashbook? | Cash Out and Payments |
| An incoming check should be recorded in which columns of the cashbook? | Cash In and Receipts |
| Assume that Pettisville Bank sent you a bank statement on July 31 listing 12 canceled checks. However, you wrote 13 checks during July. What probably happened to the other check? | The check is outstanding |
| The total on the deposit slip should equal the total of the amounts recorded in which column of the cashbook? | Cash In |
| At the end of the month, three totals should agree: the cashbook, the check register, and the | bank reconciliation |
| The currency line on a deposit slip is used for recording | paper money |
| Checks for deposit are listed on a deposit slip | on the back of the deposit slip |
| The ABA number on a check includes the | all of the above |
| Bank statements are sent by the bank | monthly |
| After reconciling the bank statement, the despositor should subtract the service charge from the | both b and c |
