CHAPTER 4 REVIEW
Name:
Directions: Please read pp64 and pp66 – 70. Using 4-1 Power Point in Blended Schools,
complete the questions below:
1. If you paid cash for supplies, which Cash column would you enter the amount?
a. Debit
b. Credit
2.
On Check No. 1, who is Barbara Trevino paying?
a. Herself
b. Quick Clean Supplies Co.
c. Encore Music
3. This slide shows Barbara Trevino invested $10,000
into her company, Encore Music, on August 1st. To
ensure proper documentation, she wrote herself a receipt
to use as a ________________?
a. Sales credit slip
b. Post reference
c. Source document
4. Which two accounts are affected with this kind of
transaction?
a.
b.
5. What happens to Assets (cash)?
Increase or
Decrease?
6. What happens to OE (capital)?
Increase
or
Decrease?
7. List the 4 steps to record this transaction from
August 1:
a.
b.
c.
d.
8.
What is happening in this transaction on August 4?
9.
Which accounts are affected?
10. Are assets increased, decreased, or both?
11. What is the source document used for this
transaction?
12. What does it mean when you buy supplies on account?
13.
What happens on August 11th?
14.
Does you’re A/P account increase or decrease?
15.
On which side? Debit
or
Credit
16.
What happened in this transaction on August 12?
17.
Is Sales recorded as a debit or credit?
18.
What is the source document used?
19.
In this transaction, who bought services from
Encore Music?
20.
Does this sale increase or decrease A/R?
21.
Does this sale increase or decrease Sales?
22.
What happens on August 12th?
23.
What is the source document used?
24.
Is Rent Expense increased or decreased?
25.
a.
b.
c.
d.
Write the steps to journal this transaction:
26.
What happened in this transaction from
th
Aug. 12
27.
What is the source document used?
28. Is a drawing account an asset, liability, or an owner’s equity account?
29. How is a drawing account like an expense account?
30.
What are the three steps in proving a journal
page?
a.
b.
c.
31.
Explain why we write the words “Carried
Forward.”
32.
When we start a new journal page, what are
we “bringing forward?”
33.
List the 4 steps listed here to start a new
journal page:
a.
b.
c.
d.
34.
What is the last step in proving a journal at
the end of the month?
35. In one complete sentence, explain why it is important to prove and rule a journal page:
For this section, use the journal pages below to journal the transactions listed:
36.
Apr 23: Sold services on account to Lester Dodge, $317.00, S2.
Apr 27: Paid cash to owner for personal use, $750.00, C7.
Apr 29: Received cash from sales, $743.00, T30.
37.
Jun 23: Sold services on account to Connie Vaughn, $135.00, S2.
Jun 26: Paid cash for miscellaneous expenses, $17.00, C7.
Jun 27: Received cash on account from Connie Vaughn, $100.00, R3.
38.
Feb 25: Paid cash for miscellaneous expenses, $200.00, R3.
Feb 26: Sold services on account to Hetland Company, $136.00, S2.
Feb 26: Paid cash for supplies, $44.00, C13.
TERMS – MATCHING
39. A form for recording transactions in chronological order
________
40. Information for each transaction recorded in a journal
________
41. A business paper from which information is obtained for a journal entry
________
42. A business form giving written acknowledgment for cash received
________
43. A form on which a brief message is written describing a transaction
________
44. Determining that the amount of cash agrees with the accounting records
________
45. A journal amount column that is not headed with an account title
________
46. A business form ordering a bank to pay cash from a bank account
________
47. A form describing the goods or services sold, the quantity, and the price
________
48. The recording of debit and credit parts of a transaction
________
49. An invoice used as a source document for recording a sale on account
________
50. An accounting “device” used to analyze transactions
________
a.
b.
c.
d.
e.
f.
g.
Proving cash
T account
Journal
Receipt
Memo
Entry
Double-entry accounting
h. General amount column
i. Check
j. Invoice
k. Source document
l. Sales Invoice
YOU DID IT! BREATHE. 