Source Documents
C
Check
What source document is used when something is paid in cash?
Check - C
Paid Cash for Insurance.
Prepaid Ins. - D
Given in the problem/instructions
What source document is used when paying cash?
Check
R
Receipt
Free Space
Sales - C
How do I find my total on the next unused check stub?
Provided in the problem/instructions
What source document is used when dealing with accounts payable? (Reminder to pay later)
Memo
M
Memo
True
Bought supplies on account from Mr. J Inc.
Accts. Pay. - Mr. J Inc. - C
Supplies - D
Total cashed received is the sum of my ________ ________.
Cash Debits
What is the source document "Calculator Tape" used for?
Daily sales transactions
S
Sales Invoice
Name at least 3 Source Documents
C
S
M
R
T
Sold services on account to WPPS.
Sales - C
Accts. Rec. - WPPS - D
Total cashed paid is the sum of my ________ ________.
cash credits
What is a receipt source document used for?
The receipt of cash
T
Calculator Tape
What are the perks of journalizing transactions? Give 2.
-Organized Information
-Chronological Order
-Prepare for posting to General Ledger
-Easy to find mistakes
Paid cash to owner for personal use.
Drawing - D
Cash - C
T or F:
At the end of the month the
sum of my debits + my beginning cash balance - the sum of my credits = the next unused check stub
True
When goods are sold on account, which source document is used?
Sales Invoice