Accounting – 11/08/17

I.  Bellwork:  Read Article What Happens When You Put a Stop Payment on a Check?
A.   Questions & Answers
1. Explain under what circumstances should a stop payment be issued?
2. What is the procedure for stopping payment on a check?
3. Are fees associated with a stop payment and what are they?
4. How low does a stop payment remain in effect?

II.  Objectives:

• Analyze and interpret differences in financial information from the bank statement and the check register to complete a bank statement reconciliation.
• Record and journalize a bank service charge.

III.  Discussion/Notebook

• Analyzing a bank statement
• Preparing a Bank Reconciliation
• Steps for recording a service charge on a check stub & the general journal
• 4 Reasons why the depositor’s records and the bank statement may differ

IV.  Classwork

• Work Together & On Your Own (p. 134). .
• Application Problem 5-2 (p. 149).

 

MBCC - Accounting 1 F2017