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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What are some common controls used with a bank account?
Why is it important to keep a record of credit card numbers separate from the cards?
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.
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_forwardWhich of the following are found on the bank side of the bank reconciliation? A. NSF check B. interest income C. wire transfer into clients account D. deposit in transitarrow_forwardWhy is it a good practice to post daily to the accounts receivable or accounts payable ledgers?arrow_forward
- Which transaction types should be recorded using the Bank Deposit form?arrow_forwardHow 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_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
- Would 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_forwardWhy 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_forward
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