Accounting Study Guide Unit 3

Paid Cash for Rent.

Brought Supplies on Account.

Received cash for sales.

A form describing the goods or services sold, the quantity, the price, and the terms of sale is called an 

Which accounts go on the post-closing trial balance?

Paid Cash for supplies.

True or false, The temporary account balances aren’t reduced to zero at the end of each fiscal period.

Paid Cash to the owner for personal use.

The recording of debit and credit parts of a transaction is called double-entry accounting.

Sold Services on account.

A business form giving written acknowledgement for cash received is called a 

Received Cash from the owner as an investment.

Determining that the amount of cash agrees with the accounting records is called

A business paper from which information is obtained for a journal entry is called a source document

Information for each transaction recorded in a journal is called an________

Is accounting fun?

Determining that the amount of cash agrees with the accounting records is called Proving Cash

A form on which a brief message is written to describe a transaction is called a memorandum