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Study sets matching "transactions chapter 3"

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Study sets matching "transactions chapter 3"

13 terms
Chapter 3 Journalizing Transactions
Check
Double-entry Accounting
Entry
General Amount Column
A business form ordering a bank to pay cash from a bank accou…
The recording of debit and credit parts of a transaction.
Information for each transaction recorded in a journal.
A journal amount column that is not headed with an account ti…
Check
A business form ordering a bank to pay cash from a bank accou…
Double-entry Accounting
The recording of debit and credit parts of a transaction.
26 terms
Chapter 3 Journalizing Transactions
Debit Drawing, Credit Cash
Debit Cash, Credit Accounts Receivable
Debit Expense, Credit Cash
Debit Accounts Receivable, Credit Sales
Paid cash to owner for a withdrawal of equity.
Received cash on account.
Paid cash for any kind of expense.
Sold services on account.
Debit Drawing, Credit Cash
Paid cash to owner for a withdrawal of equity.
Debit Cash, Credit Accounts Receivable
Received cash on account.
10 terms
Chapter 3: Journalizing Transactions
Check
Double-entry accounting
Entry
Invoice
A business form ordering a bank to pay cash from a bank accou…
The recording of debit and credit parts of a transaction.
Information for each transaction recorded in a journal.
A form describing the goods or services sold, the quantity, t…
Check
A business form ordering a bank to pay cash from a bank accou…
Double-entry accounting
The recording of debit and credit parts of a transaction.
13 terms
Chapter 3 Journalizing Transactions
check
double-entry accounting
entry
general amount column
a business form ordering a bank to pay cash from a bank account
the recording of debit and credit parts of a transaction
information for each transaction recorded in a journal
a journal amount column that is not headed with an account ti…
check
a business form ordering a bank to pay cash from a bank account
double-entry accounting
the recording of debit and credit parts of a transaction
13 terms
Chapter 3 Journalizing Transactions
Check
Double-entry Accounting
Entry
General Amount Column
A business form ordering a bank to pay cash from a bank accou…
The recording of debit and credit parts of a transaction.
Information for each transaction recorded in a journal.
A journal amount column that is not headed with an account ti…
Check
A business form ordering a bank to pay cash from a bank accou…
Double-entry Accounting
The recording of debit and credit parts of a transaction.
13 terms
Chapter 3: Journalizing Transactions
check
double-entry accounting
entry
general amount column
a business form ordering a bank to pay cash from a bank account
the recording of debit and credit parts of a transaction
information for each transaction recorded in a journal
a journal amount column that is not headed with an account ti…
check
a business form ordering a bank to pay cash from a bank account
double-entry accounting
the recording of debit and credit parts of a transaction
9 terms
Chapter 3 Cengage Accounting transactions
Accounting information system
Accounting transaction
Account
Chart of accounts
A system that identifies, records, summarizes and communicate…
Any economic event that effects a companies assets, liabiliti…
An accounting record that accumulates the activity of a speci…
List of accounts that a firm will use to record activity.
Accounting information system
A system that identifies, records, summarizes and communicate…
Accounting transaction
Any economic event that effects a companies assets, liabiliti…
10 terms
Chapter 3 Transactions
Received cash from owner E. J. Peters…
Paid cash to Suburban Office Supplies…
Paid cash for insurance (pg. 63)
Purchased supplies from Suburban Offic…
Debit: Cash... Credit: E. J. Peters Capital
Debit: Supplies... Credit: Cash
Debit: Prepaid Insurance... Credit: Cash
Debit: Supplies... Credit: Accounts Payable- Suburban Office Sup…
Received cash from owner E. J. Peters…
Debit: Cash... Credit: E. J. Peters Capital
Paid cash to Suburban Office Supplies…
Debit: Supplies... Credit: Cash
27 terms
Chapter 3 - Recording Transactions
double-entry system
general journal
general ledger
ledger account
the method usually followed for recording transactions, where…
a complete chronological record of an organization's transact…
the collection of all ledger accounts that supports an organi…
a listing of all the increases and decreases in a particular…
double-entry system
the method usually followed for recording transactions, where…
general journal
a complete chronological record of an organization's transact…
10 terms
Accounting chapter 3 transactions
Cash debit and general credit
General debit and cash credit
General debit and cash credit
General debit and general credit
Received cash from owner as an investment
Paid cash for supplies
Paid cash for insurance
Bought supplies on account
Cash debit and general credit
Received cash from owner as an investment
General debit and cash credit
Paid cash for supplies
10 terms
Chapter 3 Journalizing Transactions
Receipt
Memorandum
Check
Invoice
A business form giving written acknowledgement for cash recei…
A form with a brief message written to describe a transaction.
A form ordering a bank to pay cash from your bank account.
A form describing the goods sold, the quantity, the price, an…
Receipt
A business form giving written acknowledgement for cash recei…
Memorandum
A form with a brief message written to describe a transaction.
25 terms
Chapter 3 - Recording Transactions
Double-entry System
General Journal
General Ledger
Ledger Account
The method usually followed for recording transactions, where…
A complete chronological record of an organization's transact…
The collection of all ledger accounts that supports an organi…
A listing of all the increases and decreases in a particular…
Double-entry System
The method usually followed for recording transactions, where…
General Journal
A complete chronological record of an organization's transact…
11 terms
Chapter 3: Journalizing Transactions
Journal
Journalizing
Entry
Double-Entry Accounting
A form for recording transactions in chronological order.
Recording transactions in a journal.
Information for each transaction recorded in a journal.
The recording of debit and credit parts of a transaction.
Journal
A form for recording transactions in chronological order.
Journalizing
Recording transactions in a journal.
10 terms
Chapter 3 Journalizing Transactions
Check
Double-entry accounting
Entry
invoice
A business for ordering a bank to pay cash from a bank account
The recording of debit and credit parts of a transation
Information for each transaction recorded in a journal
A form describing the goods or services sold, the quantity, t…
Check
A business for ordering a bank to pay cash from a bank account
Double-entry accounting
The recording of debit and credit parts of a transation
13 terms
Chapter 3, Journalizing Transactions
Journal
Journalizing
Special amount column
General amount column
A form for recording transactions in a chronological order
Recording transactions in a jounal
a journal amount column headed with an account title
A journal amount column that is not headed with an account ti…
Journal
A form for recording transactions in a chronological order
Journalizing
Recording transactions in a jounal
13 terms
Chapter 3: Journalizing Transactions
Journal
Journalizing
Special Amount Column
General Amount Column
A form for recording transactions in chronological order.
Recording transactions in a journal.
A journal that have
...
Journal
A form for recording transactions in chronological order.
Journalizing
Recording transactions in a journal.
14 terms
Chapter 3 - Journalizing Transactions
Journal
Journalizing
Special amount column
General amount column
a form for recording transactions in chronological order
recording transactions in a journal
a journal amount column headed with an account title
a journal account column that is not headed with an account t…
Journal
a form for recording transactions in chronological order
Journalizing
recording transactions in a journal
17 terms
Chapter 3: Journalizing Transactions
journal
journalizing
special amount column
general amount column
a form for recording transactions in chronological order
recording transactions in a journal
a journal amount column headed with an account title
a journal column that is not headed with an account title
journal
a form for recording transactions in chronological order
journalizing
recording transactions in a journal
13 terms
Chapter 3 Journalizing Transactions
Check
Double-entry accounting
Entry
General amount column
A buisness form ordering a bank to pay cash from a bank account
The recording of debit and credit parts of a transaction
Information for each transaction recorded in a journal
A journal amount column not headed with an account title
Check
A buisness form ordering a bank to pay cash from a bank account
Double-entry accounting
The recording of debit and credit parts of a transaction
13 terms
Chapter 3 Journalizing Transactions
Check
Double-entry Accounting
Entry
General Amount Column
A business form ordering a bank to pay cash from a bank accou…
The recording of debit and credit parts of a transaction.
Information for each transaction recorded in a journal.
A journal amount column that is not headed with an account ti…
Check
A business form ordering a bank to pay cash from a bank accou…
Double-entry Accounting
The recording of debit and credit parts of a transaction.
16 terms
Chapter 3 Journalizing Transactions
Journal
Journalizing
Special Amount Column
General Amount Column
A form for recording transactions in chronological order
Recording transactions in a journal
A journal amount column headed with an account title
A journal amount column that is not headed with an account ti…
Journal
A form for recording transactions in chronological order
Journalizing
Recording transactions in a journal
11 terms
Chapter 3 - Journalizing Transactions
journal
journalizing
source document
entry
A form for recording transactions in chronological order
Recording transactions in a journal
A business paper from which information is obtained for a jou…
information for each transaction is recorded in a journal by…
journal
A form for recording transactions in chronological order
journalizing
Recording transactions in a journal
13 terms
Chapter 3 - Journalizing Transactions
journal
journalizing
special amount column
general account column
a form for recording transactions in chronological order
recording transactions in a journal
a journal account column headed with an account title
a journal account column that is not headed with an account t…
journal
a form for recording transactions in chronological order
journalizing
recording transactions in a journal
16 terms
Chapter 3: Accrual Transactions
A) November 1, received 18000 from ILS…
B) Paid a premium of 2,400 for a two-y…
C) Purchased Supplies on Account for 2…
Purchased Supplies are Assets until....
Liability to make their land available for use... unearned Reve…
Asset... Operating Activity... Record as:... -Decrease 2,400 in oper…
Asset... No, because no cash has been exchanged because it was…
they are used in the generation of revenue
A) November 1, received 18000 from ILS…
Liability to make their land available for use... unearned Reve…
B) Paid a premium of 2,400 for a two-y…
Asset... Operating Activity... Record as:... -Decrease 2,400 in oper…
Chapter 3 - Business transactions
Basic Accounting equation
Net assets
Net assets equation
True
Assets = Liabilities + Equity
Other name for equity
Equity = assets - liabilities
Value received = value parted with. True or false?
Basic Accounting equation
Assets = Liabilities + Equity
Net assets
Other name for equity
10 terms
Chapter 3: Journalizing Transactions Key Terms
journal
journalizing
entry
double-entry accounting
a form for recording transactions in chronological order
recording transactions in a journal
information for each transaction recorded in a journal
the recording of debit and credit parts of a transaction
journal
a form for recording transactions in chronological order
journalizing
recording transactions in a journal
9 terms
Chapter 3: Recording business transactions
What is a financial statement?
What is a transaction?
How does Debit and Crediting work in t…
What is a accounting Journal?
Financial statements summarize the effects of economic phenom…
Any event that financially impacts the business and can be me…
Assets are increased by Debits and decreased by Credits.... Liab…
The chronological accounting record of an entity's transactio…
What is a financial statement?
Financial statements summarize the effects of economic phenom…
What is a transaction?
Any event that financially impacts the business and can be me…
11 terms
Accounting 10E Chapter 3 Journalizing Transactions
journal
journalizing
double-entry accounting
source document
form for recording transactions in chronological order
recording transactions in a journal
recording of debit and credit parts of a transaction
business paper from which information is obtained for a journ…
journal
form for recording transactions in chronological order
journalizing
recording transactions in a journal
13 terms
Chapter 3: Journalizing Transactions Vocabulary
special amount column
general amount column
entry
double-entry accounting
a journal amount column headed with an account title
a journal amount column that is not headed with an account ti…
information for each transaction recorded in a journal
the recording of debit and credit parts of a transaction
special amount column
a journal amount column headed with an account title
general amount column
a journal amount column that is not headed with an account ti…
13 terms
Accounting I Chapter 3 - Journalizing Transactions
A form for recording transactions in c…
Recording transactions in a journal.
A journal amount column headed with an…
A journal amount column that is not he…
journal
journalizing
special amount column
general amount column
A form for recording transactions in c…
journal
Recording transactions in a journal.
journalizing
10 terms
Chapter 3 General Journal and Recording Transactions
Journal
Journalizing
Entry
Double-Entry Accounting
A form for recording transactions in chronological order.
Recording transactions in a journal.
Information for each transaction recorded in a journal.
The recording of debit and credit parts of a transaction.
Journal
A form for recording transactions in chronological order.
Journalizing
Recording transactions in a journal.
18 terms
Accounting chapter 3 business transactions
Property
financial claim
credit
creditor
is anything of value that a person or business owns and there…
is a legal right to an item.
when you buy something and agree to pay for it later.
a creditor can be a person or business to which you owe money
Property
is anything of value that a person or business owns and there…
financial claim
is a legal right to an item.
10 terms
Chapter 3: Recording Accounting Transactions
Journal
Ledger
Trail Balance
Debit
A journal is a chronological record of transaction.
A ledger is a collection of accounts and their balance. ... - Th…
A trail balance is the list of accounts and their balance at…
left side of account
Journal
A journal is a chronological record of transaction.
Ledger
A ledger is a collection of accounts and their balance. ... - Th…
11 terms
Chapter 3 - Recording Transactions in a General Journal
Check
Double-Entry Accounting
Entry
Invoice
A business form ordering a bank to pay cash from a bank accou…
The recording of the debit and credit parts of a transaction
Information for each transaction recorded in a journal
A form describing the goods or services sold, the quantity, a…
Check
A business form ordering a bank to pay cash from a bank accou…
Double-Entry Accounting
The recording of the debit and credit parts of a transaction
10 terms
Chapter 3 Accounting: Journalizing Transactions
journal
journalizing
entry
double-entry accounting
a form for recording transactions in chronological order
recording transactions in a journal
information for each transaction recorded in a journal
recording of debit and credit parts of a transaction
journal
a form for recording transactions in chronological order
journalizing
recording transactions in a journal
11 terms
Chapter 3 Recording Transactions in a General Journal
Journal
Journalizing
Entry
General Journal
a form for recording transactions in chronological order
recording transactions in a journal
information for each transaction recorded in a journal
a journal with two amount columns in which all kinds of entri…
Journal
a form for recording transactions in chronological order
Journalizing
recording transactions in a journal
12 terms
Chapter 3: Recording Transactions in a General Journal
journal
journalizing
entry
general jounral
a form for recording transactions in chronological order
recording transactions in a journal
information for each transaction recorded in a journal
a journal with 2 amount columns in which all kinds of entries…
journal
a form for recording transactions in chronological order
journalizing
recording transactions in a journal
13 terms
Accounting chapter 3 Journalizing Transactions
check
double-entry accounting
entry
general amount column
a business form ordering a bank to pay cash from a bank account
the recording of debit and credit parts of a transaction
information for each transaction recorded in a journal
a journal amount column that is not headed with an account ti…
check
a business form ordering a bank to pay cash from a bank account
double-entry accounting
the recording of debit and credit parts of a transaction
10 terms
Chapter 3 recording accounting transactions
Accounting information system
Accounting transaction
Account
Chart of accounts
the system that identifies, records, summarizes, and communic…
any economic event that affects a company's assets, liabiliti…
an accounting record that accumulates the activity of a speci…
the list of accounts that a company uses of capture its busin…
Accounting information system
the system that identifies, records, summarizes, and communic…
Accounting transaction
any economic event that affects a company's assets, liabiliti…
10 terms
Recording Accounting Transactions - Chapter 3
Accounting Information System
Accounting Transaction
Account
Chart of Accounts
The system that identifies, records, summarises and communica…
Any economic event that affects a company's assets, liabiliti…
An accounting record that accumulates the activity of a speci…
The list of accounts that a company uses to capture its busin…
Accounting Information System
The system that identifies, records, summarises and communica…
Accounting Transaction
Any economic event that affects a company's assets, liabiliti…
14 terms
Accounting chapter 3: journalizing transactions
journal
special amount column
general amount column
entry
a form for recording transactions in chronological order
a journal amount column headed with an account title
a journal amount column that is not headed with an account ti…
information for each transaction recorded in a journal
journal
a form for recording transactions in chronological order
special amount column
a journal amount column headed with an account title
11 terms
Chapter 3 - Recording Transactions in a General Journal
Check
Double-entry Accounting
Entry
General Journal
A business form ordering a bank to pay cash from a bank accou…
The recording of debit and credit parts of a transaction.
Information for each transaction recorded in a journal.
A journal with two amount columns in which all kinds of entri…
Check
A business form ordering a bank to pay cash from a bank accou…
Double-entry Accounting
The recording of debit and credit parts of a transaction.
10 terms
Accounting Chapter 3 - Journalizing Transactions
A form for recording transactions in c…
Recording transactions in a journal
Information for each transaction recor…
The recording of debit and credit part…
Journal
Journalizing
Entry
Double-entry accounting
A form for recording transactions in c…
Journal
Recording transactions in a journal
Journalizing
32 terms
Accounting I // Chapter 3: Journalizing Transactions
Check
Double-entry accounting
Entry
General amount column
A business form ordering a bank to pay cash from a bank account
The recording of debit and credit parts of a transaction
Information for each transaction recorded in a journal
A journal amount column that is not headed with an account ti…
Check
A business form ordering a bank to pay cash from a bank account
Double-entry accounting
The recording of debit and credit parts of a transaction
10 terms
Chapter 3 (Journalizing Transactions) vicky
Jornal
Journalizing
Entry
Double Entry Accounting
a form of recording transactions in chronological order
Recording transactions in a journal.
Information for each transaction recorded in a journal
The recording of debit and credit parts of a transaction.
Jornal
a form of recording transactions in chronological order
Journalizing
Recording transactions in a journal.
13 terms
Accounting Chapter 3: Journalizing Transactions
Journal
Journalizing
Special amount column
General amount column
A form for recoding transactions in chronological order.
Recording transactions in a journal.
A journal amount column headed with an account title.
A journal amount column that is not headed with an account ti…
Journal
A form for recoding transactions in chronological order.
Journalizing
Recording transactions in a journal.
16 terms
Chapter 3:Business Transactions and the Accounting Equation
Account
Accounting Equation
Accounts Payable
Accounts receivable
Place where the increases or decreases in a specific item cau…
Assets = Liabilities + Owner's Equity
The amount of money owed to the creditors of a business
The total amount of money to be received in the future for go…
Account
Place where the increases or decreases in a specific item cau…
Accounting Equation
Assets = Liabilities + Owner's Equity
Chapter 3 - Accounts and Business Transactions
Cash
Held for trading securities
Loans and receivables
Trade notes receivables
Medium of exchange for business transactions.
Temporary investments of excess cash which are primarily held…
Trade receivables and non-trade receivables.
Written promise from the customer to pay a fixed amount of mo…
Cash
Medium of exchange for business transactions.
Held for trading securities
Temporary investments of excess cash which are primarily held…
11 terms
Chapter 3-Recording Transactions in a General Journal
journal
journalizing
entry
general journal
A form for recording transactions in chronological order
Recording transactions in a journal
Information for each transaction recorded in a journal
A journal with two amount columns in which all kinds of entri…
journal
A form for recording transactions in chronological order
journalizing
Recording transactions in a journal
13 terms
Accounting Chapter 3 - Journalizing Transactions
journal
journalizing
special amount column
general amount column
a form for recording transactions in chronological order
recording transactions in a journal
a journal amount column headed with an account title
a journal amount column that is not headed with an account ti…
journal
a form for recording transactions in chronological order
journalizing
recording transactions in a journal
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