Petty cash is a current asset and should be listed as a debit on the company balance sheet. To initially fund a petty cash account, the accountant should write a check made out to Petty Cash for the desired amount of cash to keep on hand and then cash the check at the company's bank.
FDIC Insurance for Trust Bank Accounts The Federal Deposit Insurance Corporation (FDIC) insures bank accounts in the event of a bank failure. If you have more than the FDIC limit at a bank that fails, you could lose all or part of the amount that is not covered by the FDIC insurance. Coverage for living trust accounts. Living trust accounts for each trust owner are insured up to $250,000 (subject to some limitations) per beneficiary, regardless of whether the beneficiary is a close relative of the trustor.
Enter Your Zip Code to Connect with a Lawyer Serving Your Area. Currently, the basic FDIC insurance limit is $250,000 per depositor (account holder), per insured bank. This amount includes principal and accrued interest through the bank's closing date.Note that coverage is calculated per bank, not per account.or example, if you have a savings account with a $200,000 balance and a CD of $80,000, you would be uninsured for the $30,000 that exceeds the $250,000 limit. Even in community property states, deposit accounts in either the husband or wife's name alone are considered single accounts for FDIC insurance purposes.