12 terms

Chapter 11-Cash Control and Banking Activities (Part 1)

bank service charge
a fee charged to the depositor by the bank for maintaining bank records and for processing bank statement items
bank statement
an itemized record of all the transactions occurring in a depositor's account over a given period, usually a month
canceled checks
checks that are paid by the bank, deducted from the depositor's account, and returned with the bank statement
a written order from a depositor telling the bank to pay cash to a person or business
checking account
a bank account that allows a bank customer to deposit cash and to write checks against the account balance
a person or business that has cash on deposit in a bank
deposit slip
a bank form on which the currency (bills and coins) and checks to be deposited are listed
the bank on which a check is written
the person who signs a check
an authorized signature that is written or stamped on the back of the check
external controls
those controls on cash from outside the business
internal controls
those steps the business takes to protect cash