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WorksheetsFABM 2 - Practical Exercise 4#1
Total questions: 26
Worksheet time: 34mins
A check dated before the date it has been written
Payee
Post-dated check
For Deposit only
ATM Card
Ante-dated check
A check dated later than the date it has been written
Payee
Post-dated check
For Deposit only
ATM Card
Ante-dated check
The meaning of the two parallel diagonal lines on the upper left corner of a check
Payee
Post-dated Check
For Deposit Only
ATM Card
Ante-dated check
The signature of the payee at the back of the check
Dishonored Check
Endorsement
Counter signature
Signature Card
Secretary's Certification
The person or company to whom the check is payable
Payee
Post-dated check
For Deposit Only
ATM Card
Ante-dated check
The second signature on a check for better internal control
Dishonored Check
Endorsement
Counter Signature
Signature Card
Secretary's Certification
A check that the bank refuses to pay
Dishonored Check
Post-dated check
Ante-dated check
Secretary's Certification
Signature Card
A form kept by the bank against which signatures on drawn checks are compared
Dishonored Check
Post-dated Check
Ante-dated check
Signature Card
Secretary's Certificate
A legal document required of corporations when they open bank accounts.
Post-dated Check
Dishonored Check
Endorsement
Signature Card
Secretary's Certificate
The instrument used to transact with bank automated teller machines.
Post-dated Checks
ATM Card
Signature Card
Ante-dated Checks
Dishonored Checks
The report rendered by the bank to the depositor, usually at the end of the month.
Bank statement
Deposit in Transit
Debit Memo
Credit Memo
The monetary instrument that is given to payees for payment of liabilities.
Check
Deposit Slip
Outstanding Check
Withholding Income Tax
The business form that accompanies deposits of coins, currency, and collection checks.
Check
Deposit Slip
Outstanding Check
Withholding Income tax
The amount deducted by the bank when the bank account goes below the required bank maintaining balance.
Debit Memo
Credit Memo
Penalty Charge
Service Charge
The amount deducted goes by the bank when the depositor draws a check in excess of existing balance.
Credit Memo
Debit memo
Penalty Charge
Service Charge
When the deposit account earns interest, the bank deducts this amount at a percentage of interest earned.
Penalty Charge
Service Charge
Withholding Income Tax
Deposit In transit
Checks issued by the depositor, not yet presented to bank for payment.
Check
Outstanding Check
Debit Memo
Credit Memo
Deposits usually at the end of the month that do not appear in the bank for payment.
Debit Memo
Credit Memo
Withholding Income Tax
Deposit in Transit
These are the amounts added by the bank other than for deposit as evidenced by this paper.
Debit Memo
Credit Memo
Check
Outstanding Check
These amounts deducted by the bank other than for checks withdrawn as evidenced by this paper
Debit Memo
Credit Memo
Check
Outstanding Check
On Sept. 5, drawn a check no. 56 for PHP 30,000 payable to SMI Corp. for payment of invoice 145.
Check no. 55 - Purchase 145 - Deposits - PHP 30,000
Check no. 65 - Purchase 145 - Deposits - PHP 30,000
Check no. 55 - Purchase 145 - Withdrawals - PHP 30,000
Check no. 65 - Purchase 145 - Withdrawals - PHP 30,000
On Sept. 8, Issued check no. 57 to Marino Co for advances for travel expense. The amount is PHP 16,000
Check no. 57 - Marino Comp - Deposits - PHP 16,000
Check no. 57 - Marino Comp - Withdrawals - PHP 16,000
Check no. 57 - Marino Comp - Deposits - PHP 16.000
Check no. 57 - Marino Comp - Withdrawals - PHP 16.000
On Sept. 10, Received payment of customer Ely Tan for PHP 34,000 for merchandise sold to him. Issued OR 312.
Ely Tan - Withdrawals - PHP 34,000
Ely Tan - Deposits - PHP 34,000
OR 312 - Deposits - PHP 34,000
OR 312 - Withdrawals - PHP 34,000
On Sept. 15, The bank issued a debit memo PHP 800 for cost of blank check book.
DM - Deposits - PHP 800
CM - Deposits - PHP 800
CM - Withdrawals - PHP 800
DM - Withdrawals - PHP 800
On Sept. 27, payment to the BIR for withholding taxes was PHP 22,000 Check no. 58.
Check no. 56 - BIR Tax - Deposits - PHP 22,000
Check no. 58 - BIR Tax - Deposits - PHP 22,000
Check no. 56 - BIR Tax - Withdrawals- PHP 22,000
Check no. 58 - BIR Tax - Withdrawals- PHP 22,000
Given the Cash Balance by the book PHP 69,200, the depositor received the following bank statement from the bank. Identify the Adjusted Book Balance and Adjusted Bank Balance (ONLY) by preparing a bank reconciliation as of September 30, 20X1.
