Accounting CH. 5 REVIEW

​Accounting Application H

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​Learning Target:

I will review how to establish a petty cash fund

I will review how to file a petty cash report​

I will review how to process of bank reconciliation​

1. When you “reconcile” your bank statement, you compare it with your bookkeeping records for the same period, and pinpoint every problem.

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2. Then, you make a record of those problems, so you or your accountant can be certain there’s no money that has gone “missing” from your business.

1. ​The check appears to be altered.

2. The signature of the person who signed the check does not match the one on the signature card at the bank.

3. The amounts written in figures and in words do not agree.

4. The check is postdated.

5. The person who wrote the check has stopped payment on the check.