Exam 4: Checking Accounts

You have just received a check. Your account number is # 5391-2165. Write the endorsement and identify what type it is, allowing you to cash the check.

The signature and instructions on the back of a check instructing the bank on what to do with that check is called a(n) ____________________.

Based on the following information what is the amount of the NET DEPOSIT line? Date: June 20, 20xx $558.00 in currency $7.22 in coins Two checks, one payroll check for $218.17 and a personal check for $478.95

Tony received his bank statement on March 7, showing a balance of $1,669.93. The balance shown in his checkbook was $1,451.06. Deposits in transit amounted to $514.37 and there was a service charge of $10.00. Outstanding checks were $249.10, $78.13, and $352.63, and the interest earned was $63.38. Find the reconciled balance.

Juno wishes to make a deposit. She has these bills: 41 ones, 7 fives, 3 tens, and 2 twenties. She has 8 nickels, 7 dimes, and 22 quarters. Juno has checks for $51.25 and $14.75. Juno wants to receive $50 in cash. What should she enter on the TOTAL line?

Additions to a checking account, including deposits and interest earned are called debits.​

On May 27, you received your bank statement showing a balance of $1,011.18. Your checkbook shows a balance of $1,024.34. Outstanding checks are $225.50 and $388.10. The account earned $88.51. Deposits in transit amount to $705.27, and there is a service charge of $10.00. Calculate the reconciled balance.

Laura Jones received a check from her employer. If Laura signed the back of her check with her name and account number it would be considered a blank endorsement.​

What type of endorsement is illustrated by the following example: Pay to the order of Jim Medley Tom Spooker 3345-26-37-3

What type of endorsement is illustrated by the following example: For deposit only Ray Spark 2425-92-16-6

Funds added to checking accounts are called drafts.​

You have just received a check. Your account number is # 5391-2165. Write the endorsement and identify what type it is, allowing the check to be transferred to your partner John Jones.

A depositor is a person who deposits money into a checking account.​

You write a check to cover a bill of $966.79. How would you write the word form of this amount on a check?

Deposits made which do not clear in time to appear on the current bank statement are called ____________________.

The bank statement balance for Alan's Auto Repair showed $983.45. The Checkbook Balance showed $1,061.94. Outstanding checks were $45.25, $36.99, and $163.77. Deposits in-transit were $102.50 and $210.00. There was a bank service charge of $8.00 and an ATM fee of $4.00. ​ ​ The reconciled bank balance is $1,049.94.

You wish to make a deposit and have these bills: 15 ones, 6 fives, 3 tens, and 5 twenties. You also have 3 nickels, 15 dimes, and 12 quarters and checks for $86.75 and $35.50. You wish to receive $50 in cash. What will you enter on the NET DEPOSIT line?

Shannon wishes to make a deposit. She has these bills: 4 ones, 2 fives, 3 tens, and 2 twenties. She has 6 nickels, 10 dimes, and 12 quarters. Shannon has checks for $22.50 and $79.00. Shannon wants to receive $20.00 in cash. What should she enter on the NET DEPOSIT line?

Based on the following information what is the amount of the NET DEPOSIT line? Date: May 10, 20xx $658.00 in currency $4.22 in coins Two checks, one for $518.17 and another for $278.95

On December 10, you receive your bank statement showing a balance of $2,979.94. Your checkbook shows a balance of $2,778.88. Outstanding checks are $381.83 and $171.57. The account earned $126.83. Deposits in transit amount to $472.17, and there is a service charge of $7.00. Calculate the reconciled balance