Day 31-32

After studying Chapter 5, you will be able to:

  • Define accounting terms related to using a checking account and a petty cash.
  • Identify accounting concepts and practices related to using a checking account.
  • Prepare business papers related to using a checking account.
  • Reconcile a bank statement.
  • Journalize dishonored checks and electronic banking transactions.
  • Establish and replenish a petty cash fund.

Mastery Problem 5-5

  1. Make a copy of this spreadsheet.
  2. Place this file in your Chapter 5 folder.
  3. Rename the file to Mastery Problem 5-5-(Your Initials)
  4. Complete the spreadsheet according to the directions on page 141.

James Astrup owns a business called LawnMow. Selected general ledger accounts are given below.

Challenge Problem 5-6

  1. Make a copy of this spreadsheet.
  2. Place this file in your Chapter 5 folder.
  3. Rename the file to Challenge Problem 5-6-(Your Initials)
  4. Complete the spreadsheet according to the directions on page 142.
  5. Use the bank statement, cancelled checks, and check stubs for GolfPro given in the Working Papers.

Cases for Critical Thinking

  1. Read the Cases For Critical Thinking cases on page 143 of your textbook.
  2. After reading through the cases, make a copy of this Google Document, rename it Chapter 5 Cases-(Your Initials), and place it in your Chapter 5 folder.
  3. Under each heading, provide a response to the question posed and explanation for your reasoning.

Study Guide 5

  1. Utilize this review to assess your learning from Chapter 5.  You have 10 attempts to get as good of a score as you can.  You are free to use the online textbook above when going through this review.