Journalizing Transactions

What is an example of a source document?

• Check

• Invoice

• Memorandum

• All the above

The recording of debit and credit parts of a transaction is called:

• journal

• double-entry accounting

• journalizing

• preparing journal entries

What is NOT considered the four parts of journal entry?

• Credit

• Debit

• Date

• Account Title

In what order are transactions recorded in a journal?

• Alphabetical

• Chronological

• By Date

• According to the source document

Why are source documents important?

• to verify the accuracy of a specific journal entry.

• to make sure no one is stealing.

• it is not important, no need for one.

• to make sure the wrong items were not ordered.

Which journal columns are used to record paying cash for insurance?

• General Credit; Cash Debit

• General Debit; Cash Debit

• General Debit; Cash Credit

• General Credit; Cash Credit

Which journal columns are used to record receiving cash from sales?

• General Debit; Cash Credit

• Cash Credit; Sales Debit

• General Credit; Cash Debit

• Cash Debit; Sales Credit

Which is NOT one of the three steps for proving a journal.

• Add each of the amount columns.

• Subtract the debit column totals from the credit column totals.

• Add the debit column totals, and then add the credit column totals.

• Verify that the total debits and total credits are equal.

How do you correct an error on the Journal?

• White Out

• Draw a neat line through the error

• Start a New Journal

• Use a Black Sharpie and draw through the error

Which journal columns are used to record paying cash for an expense?

• Sales Credit; Cash Debit

• General Credit; Cash Credit

• General Debit; Cash Credit

• General Credit; Cash Debit