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
- Make a copy of this spreadsheet.
- Place this file in your Chapter 5 folder.
- Rename the file to Mastery Problem 5-5-(Your Initials)
- 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
- Make a copy of this spreadsheet.
- Place this file in your Chapter 5 folder.
- Rename the file to Challenge Problem 5-6-(Your Initials)
- Complete the spreadsheet according to the directions on page 142.
- Use the bank statement, cancelled checks, and check stubs for GolfPro given in the Working Papers.
Cases for Critical Thinking
- Read the Cases For Critical Thinking cases on page 143 of your textbook.
- 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.
- Under each heading, provide a response to the question posed and an explanation for your reasoning.
Study Guide 5
- Complete this Chapter 5 Study Guide to assess your learning from Chapter 5. You have as many attempts as needed to get as good of a score as you can.