WorksheetsJournalizing Transactions
Total questions: 21
Worksheet time: 12mins
Transactions are recorded in a journal in chronological order
True
False
The source document used when supplies are bought on account is a memorandum.
True
False
To correct an error in a journal, one can simply erase the incorrect item and write the correct item
True
False
A receipt is the source document for cash received from transactions other than sales.
True
False
The accounting concept Unit of Measurement is being applied when a source document is prepared for each transaction.
True
False
A transaction recorded in a journal is not considered a permanent record.
True
False
A general journal page is complete when there is insufficient space to record any more entries
True
False
When an entry in an amount column is an even dollar amount, either “00” or “--” can be entered in the cents column.
True
False
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.
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.
The source document for all cash payments is a check.
true
false
The accounting concept Unit of Measurement is being applied when a source document is prepared for each transaction.
true
false
A general journal page is complete when there is insufficient space to record any more
entries.
True
False
The source document used when supplies are bought on account is a memorandum.
true
false
In double-entry accounting, each transaction affects at least two accounts.
true
false
The Business Entity concept requires proof that a transaction did occur.
True
False
Every business uses the same journal to record transactions.
True
False
A form for recording transactions in chronological order is called a(n)
T Account
Journal
Equity
Special Amount Column
Recording transactions in a journal is called
Boring
Journalizing
Normalizing
Accounting
This is an example of:
Calculator tape
Memorandum
Check
Sales Invoice
Match the correct source document picture to its name
Check
Sales Invoice
Memorandum
Calculator Tape
Receipt
