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WorksheetsAccounting Chapter 3
Total questions: 31
Worksheet time: 31mins
A form on which a brief message is written describing a transaction.
Memorandum
Double-Entry Accounting
Entry
Check
Recording transactions in a journal.
Source Document
Journalizing
Sales Invoice
Receipt
The recording of debit and credit parts of a transaction.
Receipt
Memorandum
Double-Entry Accounting
Source Documents
A business form giving written acknowledgement for cash RECEIVED.
General Journal
Memorandum
Sales Invoice
Receipt
A form for recording transactions in chronological order.
Journal
Check
Receipt
Source Document
A journal with two amount columns in which all kinds of entries can be recorded.
Sales Invoice
General Journal
Source Document
Entry
A form describing the goods or services sold, the quantity, and the price.
Check
Receipt
Invoice
Memorandum
Information for each transaction recorded in a journal.
Entry
Check
Invoice
Receipt
A business paper from which information is obtained for a journal entry.
Double-Entry Accounting
General Journal
Journal
Source Document
A business form ordering a bank to pay cash from a bank account.
Journal
Check
Memorandum
Invoice
An invoice used as a source document for recording a sale on account.
memorandum
Receipt
Sales Invoice
Check
The source document for all cash payments is a sales invoice
True
False
A receipt is the source document for cash received from transactions other than sales.
True
False
Calculator tape is the source document for daily sales.
True
False
The source document used when supplies are bought on account is a memorandum.
True
False
Receiving cash from sales increases one account and decreases another.
True
False
To correct an error in a journal, erase the incorrect item and replace with the correct item.
True
False
A transaction recorded in a journal is NOT considered a permanent record.
True
False
Transactions are recorded in a journal in chronological order.
True
False
A complete entry consists of the date, the debit amount, and the credit amount.
True - no other information
False - need something else besides those three.
The day of the month is written on each journal page only for the first entry.
True
False
The month is written on each journal page only for the first entry.
True
False
A general journal page is complete when there is insufficient space to record any more entries.
True
False
Each journal entry requires at lease two lines.
True
False
The Objective Evidence account concept requires proof that a transaction did occur.
True
False
Businesses usually wait until the end of a week to journalize the week's transaction instead of on the day it happened.
True
False
Errors in general journal entries should be erased and corrected as soon as they are discovered.
True
False
The source document for all cash payments is a sales invoice.
True
False
The source document number is a cross reference from the journal to the source document
True
False
Examples of source documents include checks, sales invoices, memorandums, and letters.
True
False
The title of the account debited in a general journal entry is Indented.
True
False - the Credit entry is Indented
