Answer the following questions to the best of your ability. This will be due the next
class period unless otherwise stated.
1. A form for recording transactions in chronological order is called a
2. Recording transactions in a journal is ________________
3. Most businesses conduct transactions everyday. To keep from getting overloaded, the
business will make entries in their accounting journals __________
4. Information for each transaction recorded in a journal is called an ________
5. A journal with columns in which all kinds of entries can be recorded is called
6. Transactions are recorded in a journal by ______ in the order in which the transaction
7. The recording of debit and credit parts of a transaction is called
**This is the type of journal we will use for the 1 accounting cycle.**
8. Double entry accounting assures that __________________
9. A business paper form in which information is obtained for a journal entry is called a
10. What does the account concept Objective Evidence mean?
11. Encore Music (and most businesses) use 5 source documents. What are they? What
are there abbreviations?
12. A business form ordering a bank to pay cash from a bank account is called a
13. When services are sold on account the seller prepares a form sharing information
about the sale. A form describing the goods and services sold, the quantity and the price
is called an __________
14. An invoice used as a source document for recording a sale on account is called a
15. A sales invoice is also referred to as a __________________
16. A sales invoice is prepared in duplicate. Why?
17. A business form giving written acknowledgement for cash received is called a
18. When is a receipt prepared?
19. A form on which a brief message is written describing a transaction is called a
20. When is a memorandum prepared?
21. Why is a calculator tape prepared?
22. Information for each transaction recorded in a journal is known as an entry. An entry
consists of 4 parts. What are they?
**There are no questions on page 69-81. But you need to make sure that you
read the information so you prepared for any discussion in class.**
23. A general journal page is completed when ________________________ to record
24. After one page of a journal is filled, a new journal page is started. A new page is
started by writing the _______ in the space provided in the journal heading.
25. What are your 2 options if an error is recorded and you notice if before the next
transaction is completed?
26. What do you do if you find an error after you have completed a couple transactions?
27. Why do you put zeros in the cents column when the amount is for even money?