Chapter 3
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Journal | A form for recording transactions in chronological order.
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| Journalizing | Recording transactions in a journal.
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| Check | A business form ordering a bank to pay cash from a bank account.
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| Entry | Information for each transaction recorded in a journal.
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| Invoice | A form describing the goods or services sold, the quantity, the price, and the terms of sale.
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| Double-entry accounting | The recording of debit and credit parts of a transaction.
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| Source document | A business paper from which information is obtained for a journal entry.
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| Proving cash | determining that the amount of cash equals the accounting records.
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| Sales invoice | An invoice used for as a source document for recording a sale on account.
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| Receipt | A business form giving written acknowledgement for cash received.
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| Memorandum | A form on which a brief message is written to describe a transaction.
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| FYI – Latin meaning journal | Diurnalis
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| FYI – Objective Evidence | When a source document is prepared for each transaction.
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| FYI – Timeframe on transactions | Year, month, day
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| FYI – Another name for company journal | "Book of original entry"
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| FYI – 4 parts of journal entry | Date, Debit, Credit, Source Document.
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| FYI – General Debit/Credit columns | Used for any account other than cash or sales.
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| FYI – Even dollar entry | 00 added to the cents column.
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| Proving a Journal | 1.Add each amount columns.
2.Add debit column totals, then credit.
3.Verify they are equal.
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| Single Rule | Under last entry to indicate that the columns are to be totaled.
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| Double Rule | indicates debits equal credits.
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| FYI – Carried Forward | All column totals brought and added.
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| FYI – Brought Forward | Last column totals brought to next page.
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| FYI – 5 steps to ruling a journal | 1.Rule a single line under the last entry.
2.Next line enter date.
3.Write Carried forward.
4.Write each column total
5.double rule underneath.
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| FYI – Correcting errors | Do not erase, mark out.
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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