Year 11 Accounting

Transactions

100

State whether the following transaction is a credit or cash transaction:
"Sold goods to Lina for $100"

Credit Transaction

200

Describe what cash transactions are.

Transactions which involves the use or receiving of cash

300

Give an example of cash transactions.

Transactions should include one of these words, paid, received, receipt #, cheque #

400

State what is debit and credit in the following transaction: "Sold old computer for $1,000 cash".

Dr Cash at bank
Cr Computer (Office Equipment)

500

Describe the word, "Transaction"

Event that affects the accounting equation of a business.

Journals

100

Define Sales Journal

Record of goods sold on credit

200

Which journal records credit notes issued?

Sales Return Journal

300

Paid electricity, $400. Which journal records this transaction?

Cash Payments Journal

400

Which source documents are used for recording Cash Receipts Journal

1. Copy of receipts
2. Cash Register Summary

500

Sold goods to Osama $500, receipt #09. Which journal is this transaction recorded?

Cash Receipts Journal

Ledgers

100

Define Dr Side

The left side of the ledger

200

Which side of the ledger is called the Cr Side?

The right side

300

Which side do you normally record the balance b/d for the Account Receivable Ledger?

Dr Side/Left Side

400

Which ledgers do you Debit in the Sales Journal?

Account Receivable Ledgers

500

What is the long form for c/f

Carry Forward