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Chapter 3
accounting
30
Accounting
12th Grade
10/21/2009

Additional Accounting Flashcards

 


 

Cards

Term
Journal
Definition
A form for recording transactions in chronological order
Term
Journalizing
Definition
Recording transactions in a journal
Term
special amount column
Definition
a journal amount column headed with an account title
Term
general amount column
Definition
a journal amount column that is not headed with an account title
Term
entry
Definition
information for each transaction recorded in a journal
Term
double-entry accounting
Definition
the recording of debit and credit parts of a transaction
Term
source document
Definition
a business paper from which information is obtained for a journal entry
Term
check
Definition
a business form ordering a bank to pay cash from a bank account
Term
invoice
Definition
a form describing the goods or services sold, the quantity, and the price
Term
sales invoice
Definition
an invoice used as a source document for recording a sale on account
Term
recipt
Definition
a business form giving written acknowledgment for cash recieved
Term
memorandum
Definition
a form on which a brief message is written describing a transaction
Term
proving cash
Definition
determining that the amount of cash agrees with the accounting records
Term
information in a journal includes the debit and credit parts of each transaction recorded: true or false?
Definition
true
Term
the objective evidence accounting concept requires that there be proof that a transaction did occur: true or false?
Definition
true
Term
examples of source documents include checks, sales invoices, memorandums, and letters: true or false?
Definition
false
Term
a check is the source document used when items are paid in cash: true or false?
Definition
true
Term
the source document for all cash payments is a sales invoice: true or false?
Definition
false
Term
a receipt is the source document for cash received from transactions other than sales: true or false?
Definition
true
Term
a calculator tape is the source document for daily sales: true or false?
Definition
true
Term
the sourse document used when supplies are bought on account is a memorandum: true or false?
Definition
true
Term
the source document used when supplies bought on account are paid for is a check: true or false?
Definition
true
Term
the journal columns used to record receiving cash from sales are cash debit and sales credit: true or false?
Definition
true
Term
the source document sales invoice is abbreviated as SI in a journal entry: true or false?
Definition
false
Term
the journal columns used to record paying cash for rent are general debit and cash credit: true or false?
Definition
true
Term
the journal columns used to record paying cash to the owner for personal use are general debit and cash credit: true or false?
Definition
true
Term
to prove a journal page, the total debit amounts ate compared with the total credit amounts to be sure they are equal: true or false?
Definition
true
Term
double lines across column totals mean that the totals have been verified as correct: true or false?
Definition
true
Term
to correct an error in a journal, simply erase the incorrect item and write the correct item in the same place: true or false?
Definition
false
Term
dollars and cents signs and decimal points should be used when writing amounts on ruled accounting pages: true or false?
Definition
false
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