Acctg quiz 8 - Accounting quiz PDF

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Accounting quiz...

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MODULE8–Ev al uat e8. 1 Afir mt hatusesspeci al j our nal sacqui r edmer chandi s ef orP10, 000,gi vi ngaP10, 000 not epay abl e.I nwhi c hj our nal woul dt het r ansact i onber ecor ded? Cas hRecei pt sJ our nal Gener alJ our nal Cas hDi s bur sement sJour nal Sal esJour nal Thecont r ol l i ngaccounti nt hegener all edgert hatsummar i z est hei ndi vi dual account s wi t hc r edi t or si nas ubsi di ar yl edgeri scal l ed Account sRecei v abl e Pur c hases Sal esRet ur nsandAl l owances Account sPay abl e As peci alj our nalcont ai nedcol umnsf orcash,pur chas esdi scount s,andaccount s pay abl e.Thi sj our nal i scal l eda Pur c hasesJour nal Cas hRecei pt sJ our nal Cas hDi s bur sement sJour nal Sal esJour nal Whi c hoft hef ol l owi ngi st r ueofav ouchers y s t em? Thecheckr egi st err epl acest hecashr ecei pt sj our nal . Tr ans act i onsar efir stent er edi nt hecheckr egi st er ,andl at er ,whenpaymenti s made,i nt hev ouc herr egi s t er . Thev oucherr egi st ercont ai nsadebi tcol umnt ov oucher spay abl e. Al l maj orexpendi t ur es ,i ncl udi ngcasht r ansact i onsf orpaymentofr entandut i l i t i es expense,woul dfir stbecr edi t edt ov oucher spay abl ebef or epay menti smade. Whenmer chandi s ei sr et ur nedorapr i ceadj us t menti sgr ant ed,anent r yi smadei nt he Gener alJ our nal Pur c hasesJour nal Adj ust ment sJ our nal Cas hRecei pt sJ our nal I nafir mt hatusesspeci al j our nal ,as al eofmer c handi seoncr edi ti sr ecor dedi nt he Pur c hasesJour nal Cas hRecei pt sJ our nal

Cas hPayment sJ our nal Sal esJour nal...