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Post to the ledger; allow ten lines for each account.

Take a trial balance. Make the statements and the verification.
Close the ledger; take a trial balance.

Pass all work to the instructor.

INTRODUCTION TO BUSINESS PRACTICE

THE BANK ACCOUNT

A Bank, primarily, is an institution chartered by the state or the national government, to deal in credits and to provide for the safekeeping of money.

A Commercial Bank renders important and diversified services to business men, among which are the following:

1. It grants credit to business men who wish to borrow money. 2. It is a safe place to keep money, securities, and valuables.

3. It facilitates the payment of money by allowing deposits to be drawn out on an order called a check. It does away with the necessity of sending money from one place to another.

4. It is especially helpful to business men in making collections, such as notes, checks, and drafts.

A person opens an account with a commercial bank by being identified if he is not known to the bank. After identification he writes his name in a signature book or on a signature card. He then makes out a deposit ticket for all items deposited, as cash, checks, etc. The bank furnishes deposit tickets and a check book, a book of blank checks and stubs, without charge.

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