stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Duplicate of Accounting Chapter 3: Journalizing Transactions Flashcards | StudBud
Explore
/
Duplicate of Accounting Chapter 3: Journalizing Transactions
Duplicate of Accounting Chapter 3: Journalizing Transactions
35 terms
·
StudBud Administration
·
62 plays
Century 21 10e Accounting Chapter 3 Journalizing Transactions
Flashcards
35 cards
F
Practice quiz
P
Host live
L
Questions
35
Answers
1
When cash is paid for rent, the amount is recorded in the
Sales Credit column and General Debit column.
General Credit column and Cash Debit column
General Credit column and Sales Credit column
Cash Credit column and General Debit column.
2
Transactions are recorded in a journal in chronological order
true
false
3
Determining that the amount of cash agrees with the accounting records
double-entry accounting
proving cash
journalizing
checking
4
A business form ordering a bank to pay cash from a bank account.
invoice
journal
check
memorandum
5
When an entry is an even dollar amount, either "00" or "--" can be entered in the cents column
false
true
6
When cash is paid on account, the amount is recorded in the
Sales Credit column and Cash Debit column
General Debit column and Cash Credit column
Cash Debit column and General Credit column
Accounts Payable Debit column and Cash Credit column
7
The entry to record payment of cash to the owner as a withdrawal of equity is
debit Cash, credit Drawing
none of these
debit Cash, credit Accounts Payable
debit Drawing, credit Cash
8
To correct an error in a journal, one can erase the incorrect term and write the correct term.
false
true
9
If an error is recorded in a journal entry,
cancel the error by drawing a neat line through the error
correct by writing the correct item above the canceled error
do not erase the incorrect term
all of these
10
A form describing the goods or services sold, the quantity, the price, and the terms of sale
journal
check
invoice
sales invoice
11
The source document for all cash payments is a check
true
false
12
the concept Unit of Measurement is applied when a source doc is prepared for each transaction
true
false
13
Double lines are ruled across a journal's columns to say the totals were verified as correct
true
false
14
A business paper from which information is obtained for a journal entry
journal document
invoice
check
source document
15
When services are sold on account, the amount is recorded in the
Accounts Receivable Debit column and Sales Credit column
Accounts Receivable Debit column and Cash Credit column.
General Credit column and Cash Debit column
General Debit column and Accounts Payable Debit column.
16
Every business uses the same journal to record transactions
false
true
17
A transaction recorded in a journal is not considered a permanent record
false
true
18
A receipt is the source document for cash received from transactions other than sales
false
true
19
Information for each transaction recorded in a journal
invoice
entry
details
memorandum
20
A form on which a brief message is written to describe a transaction
invoice
journal
memorandum
sales invoice
21
The recording of debit and credit parts of a transaction
double-entry accounting
proving cash
journalizing
checking
22
A business form giving written acknowledgement for cash received
memorandum
invoice
sales invoice
receipt
23
When cash is paid for supplies,
Supplies is credited
the balance of Supplies is decreased
Supplies is increased
none of these
24
A single line ruled across the journal's amount columns indicates
that columns are to be totaled
the totals have been verified as correct
none of these
the date is the last day of the month
25
In double-entry accounting, each transaction affects at least two accounts
false
true
26
Recording transactions in a journal
journalizing
invoice
writing
writing in a diary
27
A complete journal entry consists of the date, debit amount, credit amount, and a source doc.
true
false
28
On each journal page, the date is written
none of these
for each entry
only for the first entry
on the first line of each column
29
When cash is received from sales, the amount is recorded in the
General Debit column and Cash Credit column
Sales Debit column and Cash Credit column
General Credit column and Cash Debit column
Sales Credit column and Cash Debit column
30
The source document used when supplies are bought on account is a memorandum
true
false
31
Cash is always proved at the end of a month
false
true
32
The journal columns used to record receivin cash from the owner are Cash Debit and Sales Credit
false
true
33
When cash is received on account, the amount is recorded in the
Sales Credit column and Cash Debit column
General Debit column and Accounts Payable Debit column
Accounts Receivable Credit column and Cash Debit column.
General Debit column and Cash Credit column
34
A form for recording transactions in chronological order
sales invoice
invoice
journal
entry
35
An invoice used as a source document for recording a sale on account
sales invoice
invoice
