College Accounting (Book Only): A Career Approach
13th Edition
ISBN: 9781337280570
Author: Scott, Cathy J.
Publisher: South-Western College Pub
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Question
Chapter 6, Problem 2DQ
To determine
Explain the purpose of signature card being kept on file for customers’ account.
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Which one of the following is true of a signature card?
A.
It is the same as a deposit receipt and acts as a proof of the deposit transaction.
B.
It can be used as a debit card.
C.
It can only be used for bank accounts of individuals, not for the bank accounts of businesses.
D.
It shows each authorized person's signature for a bank account.
Why is it important to keep a record of credit card numbers separate from the cards?
Which transaction types should be recorded using the Bank Deposit form?
Chapter 6 Solutions
College Accounting (Book Only): A Career Approach
Ch. 6 - Prob. 1QYCh. 6 - Prob. 2QYCh. 6 - Which of the following does not explain the...Ch. 6 - What is the journal entry to record an NSF check,...Ch. 6 - Prob. 5QYCh. 6 - Prob. 6QYCh. 6 - Prob. 7QYCh. 6 - Prob. 8QYCh. 6 - Prob. 1DQCh. 6 - Prob. 2DQ
Ch. 6 - Prob. 3DQCh. 6 - Prob. 4DQCh. 6 - Prob. 5DQCh. 6 - Prob. 6DQCh. 6 - a. Why would a business use a Petty Cash Fund? b....Ch. 6 - Prob. 8DQCh. 6 - Prob. 1ECh. 6 - Prob. 2ECh. 6 - Prob. 3ECh. 6 - Prob. 4ECh. 6 - Prob. 5ECh. 6 - Prob. 6ECh. 6 - Prob. 7ECh. 6 - a. Describe the entries that have been posted to...Ch. 6 - Prob. 1PACh. 6 - Prob. 2PACh. 6 - Prob. 3PACh. 6 - Prob. 4PACh. 6 - Prob. 5PACh. 6 - Prob. 1PBCh. 6 - Prob. 2PBCh. 6 - Prob. 3PBCh. 6 - Prob. 4PBCh. 6 - Prob. 5PBCh. 6 - Prob. 1ACh. 6 - Prob. 2ACh. 6 - You work as a cashier for a service business. Some...
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Similar questions
- Why must a signature card be filled out and signed to open a checking account?arrow_forwardWhy is it a good practice to post daily to the accounts receivable or accounts payable ledgers?arrow_forwardA fee the bank charges for maintaining bank records and processing bank statement items for the depositor is known as _____________. Stop payment order Outstanding deposits Reconciling the bank statement Bank service chargearrow_forward
- How will the following items affect the pass book balance? Direct payment by customer into the back account. Interest on investment collected by the bank.arrow_forwardWhat are two common methods used when accepting deposits for credit card and debit card transactions?arrow_forwardWould charges for some other company's safe deposit box that were posted to your account be added to or subtracted from the company's books or the bank statement during the construction of a bank reconciliation?arrow_forward
- Why should cash receipts from credit clients and sales to them be instantly documented and posted?arrow_forwardIn sap, Which of the following outgoing payments will not require manual entry of bank account?a. Cashb. Credit Cardc. Checkd. Bank Transferarrow_forwardWhat is your preparation in doing bank reconciliation? Can you be able to reconcile bank to book without statement?arrow_forward
- Explainarrow_forwardWhat is a bank statement and discuss the importance of a bank statement to a depositor.arrow_forwardWhy does the bank treat an account balance as a Credit when there is money in the account, while in the general ledger cash records of the business, the balance would show as a Debit?arrow_forward
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