Textbook 3-3

What is the source document number for the transaction on August 12?

• T12

• 295.00

• Sales

• Cash

On August 12, which account is increased by a debit?

• Sales

• Owner's Equity

• Cash

• Service Revenue

On August 12, which account is increased by a credit?

• Cash

• Owner's Equity

• Sales

• Service Revenue

Why are no account titles written in the Account Title column for this transaction?

• Because the transaction does not affect the accounts

• Because the accounts are not known

• Because both amounts for this entry are recorded in special amount columns

• Because it is an error in the journal entry

Where should a check mark be placed for this transaction?

• In the Debit column

• In the Credit column

• In the Account Title column

• In the Post. Ref. column

What is the source document for the transaction shown on August 12?

• Purchase Order No. 1

• Sales Invoice No. 1

• Receipt No. 1

• Transaction Slip No. 1

On August 12, which account increases by a debit of $350.00?

• Sales

• Cash

• Accounts Receivable—Oakdale School

• Accounts Payable

On August 12, which account increases by a credit of $350.00?

• Accounts Receivable—Oakdale School

• Sales

• Cash

• Accounts Payable

What is the concept that requires the use of a source document in accounting?

• Time-Period Principle

• Revenue Recognition Principle

• Matching Principle

• Objective Evidence

According to the information provided, which of the following is not a financial decision that must be made using the cost of doing a performance?

• The percentage of revenue paid to a manager

• Travel expenses

• The cost of rehearsal space

• The color of the performance costumes