Kinns Chapter 23

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CHAPTER 22 Banking Services and Procedures Vocabulary Review Fill in the blanks with the correct vocabulary terms from this chapter. 1. Judy was unaware that checks were processed through at her bank. before they arrived 2. Because Alicia was the person who wrote the check, she was considered to be the . 3. When the Blackburn Clinic purchased the ultrasound machine, they paid $10,000 toward the so that they would be charged less interest. 4. Pamela wrote a check to Samantha, so Pamela is the . and Samantha is the 5. The of a check is the person who is presenting it for payment and may not be the person named as the payee. 6. Grace studied the , which is a series of laws that regulates sales of goods, commercial paper, secured…show more content…
Cindy Chan paid $10 more than she owed when she was seeing Dr. Hughes. Refund her money using check #5654. 29. Carter Graves decided to postpone his knee surgery when his wife suddenly became ill. Use check #5655 to refund his $500 deposit. 30. Determine the balance of the checking account after the funds in questions 26 to 29 have been deducted. Part IV: Prepare a Bank Deposit Prepare a bank deposit detail for a $2230.00 deposit. Use the information in questions 31 to 34. Record your answers on the figure in Work Product 22-1. 31. Cash receipts total $646.68; $2.68 was in coins. 32. Check payments were #2387 for $67.00 from Sue Patrick and #460 for $50.00 from Ronald Rodriguez. 33. Credit card payments were $25.00 and $67.00. Pam Adtkins paid the $25.00 payment, and Brad Wilson paid the $67.00 payment. 34. An insurance payment for Alejandro Sanchez arrived in the amount of $1374.32. The payment was from Aetna and was check #309. Part V: Reconcile a Bank Statement Reconcile the bank statement using the facts and figure that follow. Use the figure on page 289 to show your work. 35. The checkbook balance is $4616.96. 36. The statement balance is $6792.79 (this amount includes the deposit of $2230.00—do not add that amount in again). 37. Three checks are outstanding: check #5648 for $356.00; check #5649 for $46.90; and check #5650 for $1770.00. 38. Does the checkbook reconcile with the statement? Copyright © 2007, 2003 by Saunders, an imprint of Elsevier Inc. All

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