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Accounting
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What is the title that you put on the last line of the first page of a two-page journal?
Carried Forward
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What is the source document when you purchase supplies on an account?
Memorandum
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Transaction: Owner invested money into the business.
Debit: Cash, Credit: Owner's Equity
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Transaction: Owner withdrew cash for personal use.
Debit: Drawing, Credit: Cash
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How many days in the month of April?
30
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Transaction: Sold services for cash.
Debit: Cash, Credit: Sales
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What is the source document for Cash Register sale?
Tape
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What is the source document for when a company receives money from a customer?
Cash Receipt
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Transaction: Bought Supplies on Account
Debit - Supplies, Credit - Accounts Payable
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Transaction: Purchased Insurance with cash.
Debit: Prepaid Insurance Credit: Cash
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Transaction: Paid cash for your Rent for the month.
Debit: Rent Expense, Credit: Cash
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What is the title that you put on the top line of the second page of a two-page journal?
Brought Forward
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Transaction: Sold Services on Account.
Debit: Accounts Receivable, Credit: Sales
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What is the source documentation for a Cash paid transaction?
Check
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Transaction: Paid Cash on Account.
Debit: Accounts Receivable Credit: Cash
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What is the accounting equation?
Assets = Liabilities + Owner's Equities
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What is the source document for a sale on an account?
Sales Invoice
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