Accounting- Eval. #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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| show | Journal.
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| Recording transactions in a journal. | show 🗑
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| Information for each transaction recorded in a journal. | show 🗑
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| show | General Journal.
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| show | Double-Entry Accounting.
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| A business paper from which information is obtained for a journal entry. | show 🗑
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| show | Check.
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| show | Invoice.
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| show | Sales Invoice.
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| show | Receipt.
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| show | Memorandum.
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| show | True.
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| show | True.
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| show | False.
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| show | True.
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| show | True.
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| A receipt is the source document for cash received from transactions other than sales. | show 🗑
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| show | True.
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| The accounts affected when cash is received from the owner as an investment are Cash and the Capital Account. | show 🗑
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| When cash is paid for supplies, the Cash account is credited. | show 🗑
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| show | False.
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| The source document used when supplies are ordered by telephone on account is a memorandum. | show 🗑
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| show | True.
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| When cash is received from sales, both the Cash account and the Sales account are increased. | show 🗑
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| The source document Sales Invoice No. 1 is abbreviated as S1 in a journal entry. | show 🗑
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| show | True.
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| The accounts affected when paying cash for rent are Rent Expense and Cash. | show 🗑
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| show | True.
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| The accounts affected when paying cash to the owner for personal used are the drawing account and Cash. | show 🗑
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| If there is only one blank line remaining on a journal page, it is standard practice to split the netry and record the second lime of the entry on the next page. | show 🗑
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| show | False.
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| show | False.
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Created by:
23Witaszek