Source Documents
Source Documents for all cash payments is a _____?
Check
What is the normal balance side for cash?
Debit
Why do you have to prove a journal?
To make sure debits and credits are equal.
When recording a sale on account it is considered ______?
Sales Invoice
What is the first step for journalizing transactions?
Writing the date
What is written in the Account Title column on the closing entry?
Totals
What is a receipt?
When cash is received from a source other than a sale.
What two accounts are affected when supplies are bought on account?
Supplies and Accounts Payable
What do double lines in a journal indicate?
Each column total has been proved and correctly totaled.
What do you use when no other source document is prepared?
Memorandum
What goes in the Account Title column of the journal when cash is received from sales?
A slash or checkmark
What is written in the Account Title column when starting a new journal page in the middle of the fiscal period?
Brought Forward
What is a Calculator Tape?
When cash is received from sales.
What is the accounting concept that states accounting records must be based on verifiable, unbiased evidence?
Objective Evidence
True or False?
When a journal page is full, the full page should be proved before a new page is started.
True.