20 terms

Chapter 5

STUDY
PLAY

Terms in this set (...)

Code of conduct
statement that guides the ethical behavior of a company and its employees
Checking account
bank account from which payments can be ordered by a depositor
Endorsment
signature or stamp on back of a check transferring ownership
Blank endorsement
consist only of endorser's signature
Special endorsement
indicates new owner (pay to order of....)
Restrictive endorsement
restricts further transfer of a check's ownership
Objective evidence
record or evidence for transaction (stub)
Post dated check
check with a future date
Void
what you write in journal for a check that contains an error
Bank statement
report of deposits, withdrawals and bank balances sent to a depositor by a bank
Why bank records differ
service charges, outstanding deposits and checks, errors
Dishonered check
check that a bank refuses to pay
Electronic funds transfer
computerized cash payment system that transfers funds without the use of checks, currency, or other paper documents (EFT)
Debit card
card that automatically deducts amount of a purchase from a checking account
Credit cash
when you use electronic funds transfer & debit acct. payable
Credit cash
when use debit card and debit account of item purchased
Petty cash
account of cash kept on hand and used for making small payments
To open petty cash
debit petty cash, credit cash
Petty cash slip
form showing proof of a petty cash payment
Credit cash
to replenish petty cash and debit accounts used for petty cash