Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

dy's reviewer > fabm chapter 7 > Flashcards

fabm chapter 7 Flashcards

1
Q

book of original entries

A

journal

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

where business transaction are first recorded

A

journal

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

the way u record the transaction in journal

A

chronological way

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

business transaction are recorded in the journal

A

journal entries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

recording process of journal

A

journalizing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

type of journal

A

special
general

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

types common examples of special journal

A

sales journal
purchases journal
cash receipts journal
cash disbursement journal

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

to record sales on account

A

sales journal

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

what is debit and credit of SALES JOURNAL

A

debit: account receivable
credit: sales

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

record purchases of inventory on account

A

purchases journal

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

what is debit and credit of PURCHASES JOURNAL

A

debit: purchase
credit: account payable

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

inflow of cash

A

cash receipts journal

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

record all transaction involving receipts of cash

A

cash receipts journal

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

what is debit and credit of CASH RECEIPTS JOURNAL

A

dr: cash
cr: kung ano yung transaction na tinutukoy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

outflow of cash

A

cash disbursement journal

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

record all transaction involving payments of cash

A

cash disbursement journal

17
Q

debit and credit of CASH DISBURSEMENT JOURNAL

A

dr:
cr: cash

18
Q

pag Hindi nag uutilize ang special journal

A

general journal

19
Q

systematic compilation of a group account

A

ledger

20
Q

book of final entries

A

ledger

21
Q

book of secondary entries

A

ledger

22
Q

process of recording in the ledger is called

A

posting

23
Q

kinds of ledger

A

general ledger
subsidiary ledger

24
Q

contain all the amount appearing in the trial balance

A

general ledger

25
Q

provides breakdown of the balance

A

subsidiary ledger

26
Q

format of the book of accounts

A

date column
account title column
account numbers column
debit and credit column

27
Q

recording dates of transaction

A

date column

28
Q

affected by a business transaction

A

account title column

29
Q

corresponding numbers of the account

A

account numbers column

30
Q

monetary affect the transaction

A

debit and credit column

31
Q

cross reference journal entries

A

posting reference

32
Q

normally credited when cash collected

A

separately indicated

33
Q

all transaction are recorded in the accounting. Accounting Equation should be
balance of all times

A

double entry system

34
Q

concepts of duality and equilibrium

A

the concept of duality
the concept of equilibrium

35
Q

having two fold effect

A

the concept of duality

36
Q

recorded in terms of equal debit and credit

A

the concept of equilibrium

dy's reviewer (13 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions