Journal Entry and Ledger | Baamboozle - Baamboozle

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Team 2
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What does the purchases ledger record?

Return outwards and Accounts payables

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Return outwards is recorded in the return outwards journal. true or false?

True

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If a trade discount is given on a transaction for a sale this would be recorded in the journal. True or False

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banana

Go to last place!

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fairy

Take points!

fairy

Take points!

thief

Give points!

A cash discount of $15 is given from a cash sale worth $200 how much money is recorded as cash?

$185 (200-15)

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trap

No points!

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seesaw

Swap points!

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rocket

Go to first place!

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banana

Go to last place!

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baam

Lose 20 points!

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fairy

Take points!

fairy

Take points!

banana

Go to last place!

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heart

Other team wins 25 points!

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fairy

Take points!

gift

Win 10 points!

Okay!

banana

Go to last place!

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What document is used when placing an order as a buyer?

Purchase Order

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The general journal can be used to record transactions such as opening capital accounts and correction of errors. True or False?

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A trade discount is given where would this be shown?

On the Invoice

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What does the purchases journal record?

Credit Purchases

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List the names of any three day books

General Journal, Sales Journal, Purchases Journal etc...

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What type of transactions are recorded in the petty cash book?

Small cash payments due

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What is meant by the imprest system for petty cash book?

A system where the cashier starts with an opening balance "float" and at the end of the month the float is replaced with all of the money that was spent

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List the name of the 3 ledgers

Sales, Purchases and General Ledger

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