Chapter 3 Journalizing Transactions • 35
Study
Guide
3
Name Perfect
Score Your
Score
Identifying Accounting Terms 10 Pts.
Identifying Accounting Concepts and Practices 20 Pts.
Recording Transactions in a General Journal 20 Pts.
Total 50 Pts.
Part One—Identifying Accounting Terms
Directions: Select the one term in Column I that best fits each definition in
Column II. Print the letter identifying your choice in the Answers column.
Column I
A. check
B. double-entry accounting
Column II
1. A form for recording transactions in chronological order. (p. 58)
2. Recording transactions in a journal. (p. 58)
Answers
1.
2.
E
F
36 • Working Papers
Part Two—Identifying Accounting Concepts and Practices
Directions: Place a T for True or an F for False in the Answers column to show whether
each of the following statements is true or false.
1. Information in a journal includes the debit and credit parts of each transaction recorded in
one place. (p. 59)
2. The Objective Evidence accounting concept requires that there be proof that a transaction
did occur. (p. 59)
3. Examples of source documents include checks, sales invoices, receipts, and memorandums.
(p. 59)
4. A memorandum is the source document used when items are paid in cash. (p. 61)
5. A receipt is the source document for cash received from transactions other than sales. (p. 61)
6. A calculator tape is the source document for daily cash sales. (p. 61)
Answers
1.
2.
3.
4.
5.
6.
TE
T
T
T
F
T
T
Chapter 3 Journalizing Transactions • 37
Name Date Class
Part Three—Recording Transactions in a General Journal
Directions: Analyze each of the following transactions into debit and credit parts and
choose account titles from the list below. Print the letters identifying your choices in
the proper Answers columns.
1–2. Received cash from owner, David Dumire, as an investment. (p. 62)
3–4. Paid cash for supplies. (p. 63)
5–6. Paid cash for insurance. (p. 65)
7–8. Bought supplies on account from Casey Company. (p. 66)
Answers
Debit Credit
1. 2.
3. 4.
5. 6.
7. 8.
Account Titles
A. Accounts Payable—Casey
C. Advertising Expense
G. Prepaid Insurance
D
I
G
I
E
D
D
A
38 • Working Papers
Across
3. A form on which a brief message is written to
describe a transaction.
4. Recording transactions in a journal.
5. A form describing the goods or services sold, the
Down
1. A form for recording transactions in chronological
order.
2. A business paper from which information is
obtained for a journal entry.
1
2
3
4
5
TE
1
2
3
4
5
S
ORAN
R
U
O
J
DUM
U
R
C
MEM
NAL
A
IZINGJOU
Chapter 3 Journalizing Transactions • 39
Name Date Class
3-1, 3-2, 3-3, and 3-4 WORK TOGETHER, pp. 64, 69, 75, and 80
GeNeRAl JOURNAl PAGE
DATE ACCOUNT TITLE DOC.
NO. POST.
REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
3-1 Journalizing entries in a general journal
3-2 Journalizing entries in a general journal
3-3 Journalizing transactions that affect owner’s equity in a general journal
3-4 Journalizing transactions and starting a new journal page
20–
Apr. 1 Cash R1 2 8 0 0 00
Norma Dirks, Capital 2 8 0 0 00
2 Supplies C1 4 1 5 00
Cash 4 1 5 00
5 Supplies M1 6 0 0 00
Accounts Payable—Supply Mart 6 0 0 00
7 Prepaid Insurance C2 5 0 0 00
Cash 5 0 0 00
3-1
3-2
1
40 • Working Papers
GeNeRAl JOURNAl PAGE
DATE ACCOUNT TITLE DOC.
NO. POST.
REF. DEBIT CREDIT
1 1
2 2
15 15
16 16
17 17
18 18
19 19
20 20
21 21
22 22
23 23
24 24
25 25
26 26
27 27
28 28
29 29
30 30
31 31
32 32
33 33
3-4 WORK TOGETHER (concluded)
TE
20–
Apr. 28 Miscellaneous Expense C10 3 5 00
Cash 3 5 00
2
Chapter 3 Journalizing Transactions • 41
Name Date Class
3-1, 3-2, 3-3, and 3-4 ON YOUR OWN, pp. 64, 69, 75, and 80
GeNeRAl JOURNAl PAGE
DATE ACCOUNT TITLE DOC.
NO. POST.
REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
3-1 Journalizing entries in a general journal
3-2 Journalizing entries in a general journal
3-3 Journalizing transactions that affect owner’s equity in a general journal
3-4 Journalizing transactions and starting a new journal page
20–
June 2 Cash R1 3 2 0 0 00
Michelle Sullivan, Capital 3 2 0 0 00
3 Supplies C1 6 0 0 00
Cash 6 0 0 00
5 Prepaid Insurance C2 3 0 0 00
3-1
1
42 • Working Papers
GeNeRAl JOURNAl PAGE
DATE ACCOUNT TITLE DOC.
NO. POST.
REF. DEBIT CREDIT
1 1
2 2
3 3
16 16
17 17
18 18
19 19
20 20
21 21
22 22
23 23
24 24
25 25
26 26
27 27
28 28
29 29
30 30
31 31
32 32
33 33
3-4 ON YOUR OWN (concluded)
TE
20–
June 27 Miscellaneous Expense C9 4 4 00
Cash 4 4 00
28 Supplies C10 2 1 0 00
2
Chapter 3 Journalizing Transactions • 43
3-1, 3-2, 3-3, and 3-4.1 APPLICATION PROBLEMS, pp. 83–84
3-1 Journalizing transactions in a general journal (LO3, 4)
3-2 Journalizing buying insurance, buying on account, and paying on account in a general
journal (LO3, 4, 5)
3-3 Journalizing transactions that affect owner’s equity and receiving cash on account in a
general journal (LO3, 4, 5, 6, 7)
3-4.1 Starting a new journal page (LO3, 4, 5, 6, 7, 8)
GeNeRAl JOURNAl PAGE
DATE ACCOUNT TITLE DOC.
NO. POST.
REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
10 10
20–
Mar. 1 Cash R1 5 0 0 0 00
Dennis Marier, Capital 5 0 0 0 00
4 Supplies C1 1 5 0 0 00
Cash 1 5 0 0 00
6 Prepaid Insurance C2 3 0 0 00
Cash 3 0 0 00
7 Supplies M1 1 0 0 0 00
Accounts Payable—Supply Mart 1 0 0 0 00
8 Accounts Payable—Supply Mart C3 5 0 0 00
3-2
3-1
1
44 • Working Papers
GeNeRAl JOURNAl PAGE
DATE ACCOUNT TITLE DOC.
NO. POST.
REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
16 16
17 17
18 18
19 19
20 20
21 21
22 22
23 23
24 24
25 25
26 26
27 27
28 28
29 29
30 30
31 31
32 32
33 33
3-4.1 APPLICATION PROBLEM (concluded)
20–
Mar. 26 Miscellaneous Expense C9 1 5 00
Cash 1 5 00
27 Accounts Receivable—Scott Company S2 4 0 0 00
Sales 4 0 0 00
2
Te
Chapter 3 Journalizing Transactions • 45
GeNeRAl JOURNAl PAGE
DATE ACCOUNT TITLE DOC.
NO. POST.
REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
23 23
24 24
25 25
26 26
27 27
28 28
29 29
30 30
31 31
32 32
33 33
3-4.2 APPLICATION PROBLEM, p. 85
Journalizing transactions (LO3, 4, 5, 6, 7)
20–
Aug. 1 Cash R1 2 0 0 0 00
Mikaela Mundt, Capital 2 0 0 0 00
3 Supplies C1 2 1 6 00
Cash 2 1 6 00
4 Prepaid Insurance C2 2 4 5 00
Cash 2 4 5 00
1
46 • Working Papers
GeNeRAl JOURNAl PAGE
DATE ACCOUNT TITLE DOC.
NO. POST.
REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
10 10
11 11
3-M MASTERY PROBLEM, p. 85
Journalizing transactions and starting a new journal page (LO3, 4, 5, 6, 7, 8)
20–
May 1 Cash R1 8 0 0 0 00
Sadie Berkowitz, Capital 8 0 0 0 00
2 Supplies C1 1 5 0 00
Cash 1 5 0 00
3 Rent Expense C2 4 5 0 00
Cash 4 5 0 00
4 Supplies M1 8 5 0 00
Accounts Payable—Archer Supplies 8 5 0 00
5 Utilities Expense C3 1 2 3 00
Cash 1 2 3 00
8 Accounts Payable—Archer Supplies C4 5 0 0 00
1
Te
Chapter 3 Journalizing Transactions • 47
GeNeRAl JOURNAl PAGE
DATE ACCOUNT TITLE DOC.
NO. POST.
REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
10 10
11 11
12 12
Name Date Class
3-M MASTERY PROBLEM (concluded)
20–
May 16 Supplies C9 5 5 0 00
Cash 5 5 0 00
17 Cash R2 1 1 5 00
Accounts Receivable—Zachary’s Limos 1 1 5 00
17 Supplies M2 3 0 0 00
Accounts Payable—OK Supplies 3 0 0 00
17 Cash T17 2 5 0 00
Sales 2 5 0 00
19 Cash T19 3 2 5 00
Sales 3 2 5 00
22 Supplies M3 3 0 00
2
48 • Working Papers
3-S SOURCE DOCUMENTS PROBLEM, p. 87
Journalizing transactions from source documents (LO2, 3, 4, 5, 6, 7)
Receipt No. 1
Date , 20 – –
From
For
Receipt No. 1 Form
Date 20 – –
Rec’d from
For
Dollars
Amount
Received by
$
$
4,000 00
June 1
Henry White
Investment
June 1
Henry White
Henry White
Investment
Four thousand and no/100
4,000 00
1
Te
Chapter 3 Journalizing Transactions • 49
3-S SOURCE DOCUMENTS PROBLEM (continued)
No. 3 Form
Date $
To
For
BALANCE BROUGHT FORWARD 3,100 00
AMOUNT DEPOSITED
SUBTOTAL Date 3,100 00
20 – –
No. 4 Form
Date $
To
For
BALANCE BROUGHT FORWARD 3,020 00
AMOUNT DEPOSITED
SUBTOTAL Date 3,020 00
20 – –
5
June 9 80.00
Statewide Electric
Electric bill
6
June 11 300.00
Atlas Supplies
Payment on account
50 • Working Papers
3-S SOURCE DOCUMENTS PROBLEM (continued)
Form
0.00*
300.00
115.00+
285.00+
700.00*
10
June 19, 20 – –
T19
No. 5 Form
Date $
To
For
BALANCE BROUGHT FORWARD 2,720 00
AMOUNT DEPOSITED 6 12 20 – – 600 00
20 – –
9
June 16 300.00
Oakridge Insurance C0.
Insurance
Te
Chapter 3 Journalizing Transactions • 51
Name Date Class
3-S SOURCE DOCUMENTS PROBLEM (continued)
Receipt No. 2
Date , 20 – –
From
For
Receipt No. 2 Form
Date 20 – –
Rec’d from
For
June 29
J. Puckett
On account
14
June 29
J. Puckett
On account
52 • Working Papers
GeNeRAl JOURNAl PAGE
DATE ACCOUNT TITLE DOC.
NO. POST.
REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
10 10
11 11
12 12
3-S SOURCE DOCUMENTS PROBLEM (continued)
20–
June 1 Cash (1) R1 4 0 0 0 00
Henry White, Capital 4 0 0 0 00
3 Supplies (2) C1 3 0 0 00
Cash 3 0 0 00
5 Rent Expense (3) C2 6 0 0 00
Cash 6 0 0 00
8 Supplies (4) M1 3 0 0 00
Accounts Payable—Atlas Supplies 3 0 0 00
9 Utilities Expense (5) C3 8 0 00
Cash 8 0 00
11 Accounts Payable—Atlas Supplies (6) C4 3 0 0 00
Cash 3 0 0 00
1
Te
Chapter 3 Journalizing Transactions • 53
3-S SOURCE DOCUMENTS PROBLEM (concluded)
GeNeRAl JOURNAl PAGE
DATE ACCOUNT TITLE DOC.
NO. POST.
REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
10 10
11 11
12 12
13 13
14 14
15 15
20–
June 30 Cash (17) T30 3 5 0 00
Sales 3 5 0 00
2
54 • Working Papers
GeNeRAl JOURNAl PAGE
DEBIT DATE ACCOUNT TITLE DOC.
NO. POST.
REF. CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
25 25
26 26
27 27
28 28
29 29
30 30
31 31
32 32
33 33
3-C CHALLENGE PROBLEM, p. 87
Journalizing transactions using a variation of the general journal (LO3, 4, 5, 6, 7)
8 0 0 0 00 20–
Sept. 1 Cash R1
Misha Malnick, Capital 8 0 0 0 00
2 5 0 0 00 2 Prepaid Insurance C1
Cash 2 5 0 0 00
2 0 0 0 00 3 Supplies M1
Accounts Payable—Master Supplies 2 0 0 0 00
1 5 0 0 00 4 Supplies C2
Cash 1 5 0 0 00
2 0 0 0 00 8 Accounts Payable—Master Supplies C3
1
Te