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Business Explorations (Consumer Ed) > Accounting > Flashcards

Flashcards in Accounting Deck (11)
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1
Q

Restriction Endorsement

A

Ex

For deposit only
(Signature) Sam Miller
Bank #__________

2
Q

Special/full endorsement

A

Ex

Pay to the order of (person/place) Palatine High School
(Signature) Sam Miller

-can be given to a 3rd party
Ex payed to teacher instead of PHS

3
Q

Outstanding checks

A

Checks that haven’t been payed in full or at all

4
Q

Reconcile

A

Comparing ur checkbook with the bank

5
Q

Endorse

A

To sign

6
Q

Blank endorsement

A

Just ur signature

7
Q

Accounting equation

A

A= L+ OE

8
Q

Assets

A

What u own

9
Q

Liabilities

A

What u owe

10
Q

Owners equity

A

Worth of company

Including stocks/ shares/ bonds

11
Q

Accounts payable is classified as

A

Liability