Deck 4: Banking

Question 1

A reconciled balance is found on the front side of a bank statement.

Answer 1

False

Question 2

NSF results in a bank crediting one's account.

Answer 2

False

Question 3

The effect of using an ATM card is the same as using a debit card; both result in money deducted from a checking account.

Answer 3

True

Question 4

ATMs have completely replaced the need for tellers.

Question 5

Overdraft protection could be a positive factor if a deposit in transit occurs.

Question 6

Crediting an account by the bank means a decrease to that account.

Question 7

Electronic funds transfer does not use paper checks.

Question 8

All checks are required to have a preprinted check number.

Question 9

Timing plays no role in differences between reconciling checkbook balances and bank balances.

Question 10

A blank endorsement is the safest type of endorsement.

Question 11

Mobile banking is increasing today.

Question 12

An endorsement may be in writing or by the use of a company stamp.

Question 13

A full endorsement is as safe as the restrictive endorsement.

Question 14

The use of smartphones in banking is decreasing.

Question 15

A check stub is completed after the check is written so records will be up to date.

Question 16

Online banking is always safe.

Question 17

The payee is the person to whom the check is payable.

Question 18

Outstanding checks have not reached the bank for processing by the time the bank statement has been prepared.

Question 19

More people use online banking today than 10 years ago.

Question 20

Deposits in transit are the result of outstanding checks.

Question 21

The beginning checkbook balance of Shelley Co. was $5,559.10. The bank statement showed a bank balance of $7,888.44. The bookkeeper of Shelley Co. noticed a $111.10 deposit in transit along with check numbers 90 and 97 for $499.88 and $1,256.45, respectively, as outstanding. The bank statement credited Shelley's account for $750.99 for a note collected. The bank statement revealed a check printing charge of $66.88. The reconciled balance is:

A)$6,423.12
B)$6,243.21
C)$6,423.21
D)$4,623.21
E)None of these

Question 22

On December 31, the checkbook balance of Ray Co. was $5,420.95. The bank statement balance showed $5,102.88. Checks outstanding totaled $813.53. The statement did not show a deposit in transit of $1,102.95. Check charges were $15.88. The company earned interest income of $29.32 that was shown on the report. The bookkeeper forgot to record a check for $42.09. The reconciled balance is:

A)$5,392.30
B)$5,923.03
C)$5,932.03
D)$5,392.03
E)None of these

Question 23

The checkbook balance of Roger Co. is $982.50. The bank statement reveals a balance of $1,051.82. The bank statement showed interest earned of $3.82 and a service charge of $15, along with a deposit in transit of $210. Outstanding checks totaled $270.50. The bookkeeper in further analyzing the bank statement noticed a collection of a note by the bank for $200. Roger Co. forgot to deduct a check for $180 during the month. The reconciled balance is:

A)$831.32
B)$991.32
C)$831.23
D)$991.23
E)None of these

Question 24

Jim Lee received his bank statement from Bayne Bank indicating a balance of $7,980. Lee's checkbook showed a balance of $6,800. Jim noticed that checks outstanding were $1,330. The bank statement also revealed an NSF check for $120 and a service charge of $30. The reconciled balance is:

A)$6,560
B)$6,530
C)$6,950
D)$6,650
E)None of these

Question 25

Online banking

A)Is never accepted by all banks
B)Still holds checks for 10 days
C)Is usually safe
D)Is very unsafe
E)None of these

Question 26

The process of analyzing the differences between the bank statement balance and the checkbook balance is:

A)Checks outstanding
B)Bank audit
C)Deposits in transit
D)Bank reconciliation
E)None of these

Question 27

Mia Wong's checking account had a balance of $3,100.55 on July 1. After looking at her bank statement, she noticed an NSF for $60.50, a service charge of $12.55, and a note collected for $600. There was one deposit in transit for $400 and no checks outstanding. What is the reconciled checkbook balance?

A)$3,527
B)$4,027.50
C)$3,627.50
D)$3,267.50
E)None of these

Question 28

The bank statement for Mat Co. revealed a balance of $900, and the checkbook balance showed $1,420. Checks outstanding totaled $35. A check printing charge for $5 was on the bank statement. There was a $50 NSF shown on the bank statement. There was a $500 deposit in transit. What is the reconciled balance?

A)$1,045
B)$1,095
C)$1,040
D)$1,365
E)None of these

Question 29

An unrecorded credit memo for collection of a note should be:

A)Ignored
B)Subtracted from checkbook balance
C)Added to checkbook balance
D)Added to bank balance
E)None of these

Question 30

Electronic funds transfer:

A)Uses paper checks
B)Uses some paper checks
C)Does not use paper checks
D)Is a manual transfer system
E)None of these

Question 31

Citizen Bank sent a bank statement to Bane Co. showing an ending balance of $1,480. On the bank statement there was a service charge of $20. The bookkeeper of Bane Co. noticed in the reconciliation process a deposit in transit of $200 along with checks outstanding of $300. Complete the reconciliation for Bane assuming a beginning balance of $1,400.

A)$1,830.00
B)$1,138.00
C)$1,380.00
D)$1,360.00
E)None of these

Question 32

In the reconciliation process the unrecorded bank service charge is:

A)Added to checkbook balance
B)Deducted from checkbook balance
C)Added to bank statement balance
D)Deducted from bank statement balance
E)None of these

Question 33

From the following the reconciled balance is: $$\begin{array} { l r } \text { Check book balance } & \$ 68,599.10 \\\text { Bark Balance } & 96,500.10 \\\text { Deposits in Transit } & 2,800.10 \\\text { Outstanding Checks } & 24,741.10 \\\text { Note Collected } & 6,000.00 \\\text { Bark Service Charge } & 40.00\end{array}$$

A)$74,959.10
B)$47,959.10
C)$74,459.10
D)$74,559.10
E)None of these

Question 34

Jill Gracie's current checkbook balance is $8,900.15. She opened up the bank statement and saw the bank's balance at $7,000.10. After reviewing her records with the bank statement, she discovered a deposit on July 1 not recorded on the statement for $9,821.55. A check written for $7,986.05 had not been returned by the bank. This month the company earned interest of $33.10. The bank charged the company $48.10 for printing new checks. Jill also discovered that a check written for $49.55 was not recorded in the check stubs. The reconciled balance is:

A)$8,835.60
B)$8,358.60
C)$8,735.60
D)$8,835.06
E)None of these

Question 35

Outstanding checks:

A)Have been paid by the bank
B)Are checks returned to the payer
C)Are bank checks
D)Have not been received by the bank for processing
E)None of these

Question 36

Which of the following results in crediting the checkbook balance?

A)NSF
B)Service charge
C)Interest earned
D)Overdraft protection charge
E)None of these

Question 37

The bank statement of July 31, for Savon Co. showed a balance of $6,008.10, and the checkbook showed a balance of $1,900.40. The bookkeeper of Savon Co. noticed from the bank statement that the bank had collected a note for $666.66. There was a deposit in transit made on July 1, for $1,100.10 along with the outstanding checks of $4,580.54. Check charges were $39.40. The reconciled balance is:

A)$5,227.66
B)$2,572.66
C)$2,527.66
D)$5,272.66
E)None of these

Question 38

Jane Co.'s checkbook currently has a balance of $295.10. The bank statement shows a balance of $205.10. The statement revealed interest income of $10.03 along with check charges of $2.95. Jane recorded a $200 check as $150. Deposits in transit were $402.80. Check numbers 85, 88, and 92 for $90.80, $108.10, and $156.82 were not returned with the statement. The reconciled balance is:

A)$302.18
B)$242.18
C)$242.51
D)$252.18
E)None of these

Question 39

The checkbook balance of Lester Co. was $922.55. The bank statement revealed a balance of $3,881.14. The bank statement showed interest earned of $77 and a service charge of $38.22, along with a deposit in transit of $9,555.88. Outstanding checks totaled $6,142.88. The bookkeeper in further analyzing the bank statement noticed a collection of a note by the bank for $6,815.00. Lester Co. forgot to deduct a check for $482.19 during the month. The reconciled balance is:

A)$7,924.14
B)$7,429.18
C)$7,294.14
D)$7,429.14
E)None of these

Question 40

The bank statement of Ali Co. indicated a current balance of $32,900.10. The current checkbook balance indicated a balance of $34,509.11. In the reconciliation process a deposit in transit for $6,821.11 was discovered. Check number 600 for $3,988.33 was outstanding. The statement also revealed an NSF of $110.11 along with interest earned by Ali of $1,333.88. The reconciled balance is:

A)$35,237.88
B)$34,237.88
C)$35,723.88
D)$35,732.88
E)None of these

Question 41

Match the following terms with their definitions.

-Credit memo

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 42

Match the following terms with their definitions.

-Drawer

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 43

When you are reconciling a bank statement, it's recommended that you do the following:

A)List your balance
B)List your bank statements balance
C)Record checks outstanding
D)Record deposits outstanding
E)All of these

Question 44

Match the following terms with their definitions.

-Blank endorsement

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 45

Match the following terms with their definitions.

-Restrictive endorsement

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 46

Match the following terms with their definitions.

-Outstanding checks

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 47

Match the following terms with their definitions.

-Net deposit

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 48

Sandi's checking account had a balance of $4627.36; her bank statement's balance was $10,275.46. A service fee of $37.00 also appeared on her statement. What was the total of all outstanding checks?

A)$10,238.48
B)$5,685.10
C)$5,611.11
D)$6,115.10
E)None of the above

Question 49

Match the following terms with their definitions.

-Endorsements

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 50

Match the following terms with their definitions.

-Bank reconciliation

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 51

Checks written that do not appear on your bank statement are:

A)Paid from the previous month
B)Not written correctly
C)Appear as a deposit
D)Credited to savings
E)None of these

Question 52

Match the following terms with their definitions.

-Smartphone

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 53

Which of the following are debited from a checking account?

A)ATM withdrawal
B)Returned check fee
C)Monthly service charge
D)Monthly electronic payment of utilities
E)All are debits

Question 54

Match the following terms with their definitions.

-Payee

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 55

Match the following terms with their definitions.

-Bank statement

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 56

Match the following terms with their definitions.

-Deposits in transit

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 57

Concord Pizza's checkbook balance is $1,799.59. The bank statement has a balance of $2,314.22. Interest earned on the statement was $35.50. With checks outstanding of $504.13 and a monthly service charge of $25.00, the reconciled balance is:

A)$793
B)$1,027.59
C)$2,046.35
D)$2,071.35
E)None of these

Question 58

Match the following terms with their definitions.

-Full endorsements

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 59

Match the following terms with their definitions.

-Deposit tickets

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 60

Match the following terms with their definitions.

-Nonsufficient funds

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 61

The checkbook of Vance Company had a balance of $2,210.55. The bank statement showed a balance of $4,918.18. The bank collected a $2,000 note minus a $5 service charge. There was a deposit in transit of $610.88. Several checks outstanding totaled $1,196.17. Vance collected $42.33 in interest on the checking account. Vance recorded a $300 check for $400. The bank service charge is $14.99. What is the adjusted reconciled balance?

Question 62

Calculate the balance carried forward:
$$\begin{array} { | c | c | c | c | } \hline \begin{array} { c } \text { Previous Balance } \\\text { Brought Forward }\end{array} & \text { Deposit(s) } & \text { Amt. of Check } & \begin{array} { c } \text { Balance Carried } \\\text { Forward }\end{array} \\\hline \$ 695.33 & \$ 55.10 ; \$ 88.40 & \$ 395.88 & ? \\\hline\end{array}$$

Question 63

From the following calculate the final balance that was to be carried forward in your check stubs as of the end of October:
Oct. 1 Beg. Balance $1,200.50
Oct. 8 Deposit $300.00
Oct. 12 Check written to Bloom Co. $382.65
Oct. 16 Deposit $400.00
Oct. 28 Check written to Flex Co. $185.99
Oct. 31 Check written to Ryan Co. $88.92

Question 64

Calculate the balance carried forward:
$$\begin{array} { | c | c | c | c | } \hline \begin{array} { c } \text { Previous Balance } \\\text { Brought Forward }\end{array} & \text { Deposit(s) } & \text { Amt. of Check } & \begin{array} { c } \text { Balance Carried } \\\text { Forward }\end{array} \\\hline \$ 1,011.88 & \$ 120.99 & \$ 44.10 ; \$ 188.90 & ? \\\hline\end{array}$$

Question 65

Match the following terms with their definitions.

-Check register

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 66

On May 31, 20xx, Kane Company's bank statement showed a $9,900.50 bank balance. The bank statement also showed that it collected a $1,200 note for Kane Company. A $1,315.80 deposit made on May 31 was in transit. Check number 314 for $48.50 and check number 485 for $465.12 were outstanding. Kane's bank charges $.15 per processed check. This month Kane wrote 68 checks. Kane has a $9,512.88 checkbook balance. Prepare a reconciled balance.

Question 67

Moore Company has a checkbook balance of $1,999.10. The bank statement indicated a balance of $1,981.54. Moore noticed on his bank statement a bounced check for $52.88 along with a service charge of $12.10. Interest earned on the checking account amounted to $33.81. Moore noticed that a deposit of $350 had not been recorded on the bank statement. Checks written for $363.61 had not yet been processed by the bank. What is the adjusted reconciled balance?

Question 68

Calculate the statement balance:
$$\begin{array} { | c | c | c | c | c | } \hline \begin{array} { c } \text { Balance of last } \\\text { Statement }\end{array} & \begin{array} { c } \text { Checks } \\\text { Processed }\end{array} & \begin{array} { c } \text { Deposits } \\\text { Received }\end{array} & \text { Service Charge } & \begin{array} { c } \text { Balance this } \\\text { Statement }\end{array} \\\hline \$ 888.10 & \$ 329.10 & \$ 480.11 & \$ 3.88 & ? \\\hline\end{array}$$

Question 69

Compute the reconciled balance:
$\begin{array}{|c|c|c|c|}\hline& \text { Bank } & & \\\text { Checkbook } &\text { Statement } & \text { Additional } & \text { Reconciled } \\\text { Balance } & \text { Balance } &\text { Information } & \text { Balance }\\\hline & & & \\\hline \$ 5,543.24 & \$ 6,981.32 & \text { NSF } & \$ 88.10 \\\hline & & & \\\hline & & \text { Service Charge } & 15 \\\hline & & & \\\hline & & \text { Interest Credited } & 12.15 \\\hline & & & \\\hline & & \text { Deposit in Transit } & 99.1\\\hline & & & \\\hline & & \text { Checks } \\&&\text { Outstanding } & 1,628.1\\\hline \end{array}$

Question 70

Valdez Company opened a special checking account. The charge for each check written was $.55 or a $6 a month minimum service charge (whichever is greater). At the beginning of the month, the company checkbook balance was $695.18. Valdez Company wrote 14 checks totaling $312.88. Deposits of $188.10 and $195.10 were made during the month. What is Valdez's checkbook balance to start the next month (include cost of check writing)?

Question 71

Match the following terms with their definitions.

-Electronic funds transfer

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 72

On November 1, 20xx, Broom Company received a bank statement that showed a $2,950 balance. Broom showed a $4,010 checking account balance. The bank did not return check number 124 for $1,080 and check number 138 for $720. A $3,200 deposit made on October 30 was in transit. The bank charged Broom $12 for check printing and $18 for an NSF check. Broom forgot to record a $30 withdrawal at the ATM. The bank also collected a $400 note for Broom. Prepare bank reconciliation.

Question 73

Calculate the balance carried forward:
$$\begin{array} { | c | c | c | c | } \hline \begin{array} { c } \text { Previous Balance Brought } \\\text { Forward }\end{array} & \text { Deposit(s) } & \text { Amt. of Check } & \begin{array} { c } \text { Balance Carried } \\\text { Forward }\end{array} \\\hline \$ 515.88 & \$ 62.43 & \$ 21.87 & ? \\\hline\end{array}$$

Question 74

Match the following terms with their definitions.

-ATM

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 75

Match the following terms with their definitions.

-Debit memo

A)Document that records deposit
B)Added to bank balance
C)Used in mobile banking
D)Automatic teller machines
E)One to receive amount of check
F)Bank adds to your account
G)Record keeping device
H)Bounced check
I)Check must be deposited to payee's account
J)A report sent by bank
K)Total credit card sales minus credit accounts
L)Identifies to whom check is to be transferred
M)Bank is charging your account
N)No restrictions
O)One who writes a check
P)Eliminates the use of paper checks
Q)Signing back of checks
R)Comparing bank balance to checkbook balance
S)Not processed by bank yet

Question 76

Calculate the statement balance:
$$\begin{array} { | c | c | c | c | c | } \hline \begin{array} { c } \text { Balance of last } \\\text { Statement }\end{array} & \begin{array} { c } \text { Checks } \\\text { Processed }\end{array} & \begin{array} { c } \text { Deposits } \\\text { Received }\end{array} & \begin{array} { c } \text { Service } \\\text { Charge }\end{array} & \begin{array} { c } \text { Balance this } \\\text { Statement }\end{array} \\\hline \$ 1,871.44 & \$ 891.85 & \$ 160.50 & \$ 14.11 & ? \\\hline\end{array}$$

Question 77

On December 31, 20xx, Brown Company's checkbook showed an $8,195.32 balance. Brown's bank statement showed a balance of $8,400.50. Check number 311 for $395.10 and check number 418 for $115.46 were outstanding. A $310.30 deposit was in transit. The bank charged a $10 service charge. The statement showed a $14.92 earned interest income. Complete Brown's bank reconciliation.

Question 78

Roger Ran's checkbook balance on April 30, was $1,498, and his bank statement balance for same period was $1,210.88. He discovered from his canceled checks that a check for $30 had been recorded in the check register for $20. The bank deducted a service charge of $12.55 from Roger's account. A deposit mailed on April 29, for $310.99 did not appear on the statement. Roger noticed that checks number 110 and number 118 for $16.88 and $29.54 were not returned with the canceled checks. What is the adjusted reconciled balance?

Question 79

The Swell Co. had a beginning checkbook balance of $1,792.15. Record the following in the check stubs provided: 200x
A. Oct. 17 check number 162 payable to Ray Co. for $282.88 for supplies
B. $700.50 deposit Oct. 19 (record deposit on second check stub)
C. Oct. 25 check number 163 payable to Flynn Co. for $382.41 for insurance

Question 80

Calculate the statement balance:
$$\begin{array} { | c | c | c | c | c | } \hline \begin{array} { c } \text { Balance of last } \\\text { Statement }\end{array} & \begin{array} { c } \text { Checks } \\\text { Processed }\end{array} & \begin{array} { c } \text { Deposits } \\\text { Received }\end{array} & \begin{array} { c } \text { Service } \\\text { Charge }\end{array} & \begin{array} { c } \text { Balance this } \\\text { Statement }\end{array} \\\hline \$ 910.11 & \$ 615.30 & \$ 291.88 & \$ 12.10 & ? \\\hline\end{array}$$