Terms
A form for recording transactions in chronological order
What is a journal?
A form describing the goods or services sold, the quantity, and price.
What is an invoice?
Received cash from owner as an investment/
What is credit Capital, Debit Cash?
The five columns
What are general debit, general credit, sales credit, cash debit, and cash credit?
The analysis of a transaction should be done in this
What is a T-Account?
A journal amount column headed with an account title is called this.
What is a special amount column?
A form in which a brief message is written describing a transaction.
What is a memorandum?
Paid Cash for Supplies
What is debit supplies, credit cash?
All journal entries must obtain the following
What is a date, account title, source document, debit, and credit?
Information recorded for each transaction in a journal
What is an entry?
A business paper from which information is acquired from for a journal entry.
What is a source document?
A source document used to record all daily sales.
What is Calculator Tape?
bought supplies on account
What is debit supplies, credit accounts payable?
What do you do when you buy supplies on account
What is one line supplies general debit and one line A/P general credit
The number of source documents utilized
What is five?
Determining that the amount of cash agrees with the accounting records is called this.
What is Proving Cash?
A business form giving written acknowledgment for cash received.
What is a receipt?
Received cash from sales
What is debit cash, credit sales?
Term used when you are transferring numbers from one page to the next
What is carried forward?
This accounting concept is applied when a source document is prepared for each transaction
What is Objective Evidence?
A journal amount column that is not headed with an account title is called this.
What is a General Amount Column?
A business form ordering a bank to pay cash from a bank account.
What is a check?
Paid cash to owner for personal use
What is debit drawing, credit cash.
The term is used on the last line used for the end of the month
What is totals?
The recording of debit and credit parts of a transaction
What is double entry accounting?