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WorksheetsAccounting Chapter 3
Total questions: 25
Worksheet time: 10mins
When cash is paid on account, the amount is recorded how?
When cash is received from sales, the amount is recorded in the
When services are sold on account, the amount is recorded in the
Recording transactions in a journal.
(a)
An invoice used as a source document for recording a sale on account.
receipt
sales invoice
invoice
memorandum
A business form ordering a bank to pay cash from a bank account.
(a)
A business paper from which information is obtained for a journal entry.
memorandum
journal
source document
invoice
Determining that the amount of cash agrees with the accounting records.
(a)
Which of these are source documents?
Sales invoice
Sticky notes
Sales tape
Excel worksheet
Check stub
Transactions are recorded in a journal in chronological order.
True
False
Every business uses the same journal to record transactions.
True
False
Double lines are ruled across a journal’s amount columns to indicate that the totals have been verified as correct.
True
False
A transaction recorded in a journal is not considered a permanent record
True
False
The journal columns used to record receiving cash from the owner as an investment are Cash Debit and Sales Credit
True
False
A single line ruled across the journal’s amount columns indicate
the date is the last day of the month
the totals have been verified as correct
that columns are to be totaled
none of these
When cash is paid for rent, the amount is recorded in the
If an error is recorded in a journal entry
cancel the error by drawing a neat line through the error
correct the entry by writing the correct item above the canceled error
do not erase the incorrect item
all of these.
When cash is paid for supplies
Supplies is increased
Supplies is credited.
the balance of Supplies is decreased
none of these
The entry to record payment of cash to the owner as a withdrawal of equity is
debit Cash, credit Drawing.
debit Drawing, credit Cash
debit Cash, credit Accounts Payable.
none of these
The source document for all cash payments is a check
True
False
Paid cash for insurance
E
F
G
H
I
Paid cash to owner as a withdrawal of equity.
E
F
G
H
I
Received cash from sales
E
F
G
H
I
Bought supplies on account
E
F
G
H
I
Sold services on account
E
F
G
H
I
