14-1

Chapter 14, TEST 14A

Name ______

Date ______

SCORING RECORD

Section / Total Possible / Deductions / Student
Score
A / 30
B / 30
C / 10
D / 30
Total / 100

Section A

DIRECTIONS: Each of the following statements is true or false. Indicate your choice by writing in the Answers column T for a true answer or F for a false answer. (2 points for each correct answer)

For

Answers Scoring

  1. The paid voucher file is used to prepare the

the schedule of vouchers payable. ______

  1. Internal controls are only important in large

businesses. ______

  1. Internal controls are the set of procedures used

to ensure that there is proper accounting for all

activities of the business. ______

  1. Segregation means, for example, that one employee

orders goods and a different employee pays for

them. ______

  1. There is only one acceptable format for a voucher

in business today. ______

  1. Vouchers should be prenumbered and used in

sequence. ______

  1. The Vouchers Payable account in the general ledger

may also be called the Accounts Payable. ______

  1. In a voucher system, in an emergency, checks may

be prepared without a supporting voucher. ______

  1. A voucher check is a check with space for entering

data about the voucher being paid. ______

  1. The numerical sequence of vouchers must be

accounted for only when vouchers are filed

numerically. ______

  1. A checkingaccount is a special journal used to

record all checks written in a voucher system. ______

  1. The three account columns in the check register

are: Cash Debit, Purchases Discount Debit, and

Voucher Payable Credit. ______

  1. Postings from the check register should be made

daily. ______

  1. To verify each month that the sum of the individual

amounts owed to creditors equals the Vouchers

Payable balance, a Schedule of Vouchers Payable

is prepared. ______

  1. Purchase returns are recorded in the general

journal and are not required to be entered in the

voucher register. ______

Section B

Directions: Complete each of the following statements by writing in the Answers column the letter of the word or words that correctly completes each statement. (3 points each)

For

Answers Scoring

  1. Segregation of duties means that: (A) one employee

should be responsible for ordering goods and a

different employee should be responsible for

issuing checks to pay for them; (B) different employees

should be responsible for different parts of each

transaction; (C) employees who account for

transactions should not also have custody of the

assets; (D) all of these; (E) none of these. ______

  1. The concept of adequate documents and records

involve: (A) pre-numbered documents; (B) documents

used in numerical sequence; (C) making sure all

documents are accounted for; (D) all of these;

(E) none of these. ______

  1. A voucher system is a control technique that

requires: (A) every employee be assigned a voucher

numberso that each employee can be accounted for;

(B) every business activity be assigned a voucher

number in proper sequence; (C) every acquisition

and subsequent payment be supported by an approved

voucher; (D) all businesstransactions be recorded

on a voucher; (E) all of these. ______

  1. The front of a voucher does not usually include:

(A) a check number;(B) the date; (C) thesupplier;

(D) what was purchased; (E)the number of the

voucher. ______

  1. The unpaid vouchers file is like a(n); (A) accounts

receivable subsidiary ledger; (B) accounts

payable subsidiary ledger; (C) sales journal;

(D) purchase order; (E) check register. ______

  1. In a voucher system, every recorded purchase would

be supported by all of the following except a:

(A)purchase order;(B) receiving report;

(C) cash register receipt;(D) voucher;

(E) purchase invoice. ______

  1. A special journal used to record all checks

written in a voucher system is called: (A) a voucher

journal; (B) a check register; (C) a paid vouchers

file; (D) a vouchers receivable journal; (E) voucher

register. ______

  1. A check register has three columns; (A) Vouchers

Receivable Dr., Purchases Dr., Cash Dr.; (B) Vouchers

Payable Cr., Purchases Cr., Cash Cr.; (C) Vouchers

Payable Cr., Purchases Discounts Cr., Cash Dr.,

(D) Vouchers Payable Dr., Purchases Discounts Cr.,

Cash Cr.; (E) Sales Dr.,Cash Cr., Purchases Cr. ______

  1. Merchandise costing $4,000 was originally purchased

using a purchase order. When $200 of that merchandise

was returned, the general journal entry to record

receipt of the credit memo would show a debit and

a credit in the amount of:

(A)$4,200; (B) $4,000; (C) $3,800; (D) $200;

(E) cannot be determined from the information.______

10. The general journal entry to cancel a voucher

for purchases of merchandise: (A) debit Vouchers

Payable and credit Purchases; (B) debit Purchases

and credit Vouchers Payable; (C) debit Vouchers

Payable and credit Cash; (D) debit Accounts

Payable and credit Vouchers Payable; (E) debit

Cash and credit Purchases. ______

Section C

DIRECTIONS: Match the correct answer to the definition that best explains it. (2 points each)

_____ 1. Contains vouchers paid and cancelled and filed either

numerically or by suppliers.

_____ 2. A control technique which requires that every acquisition

and subsequent payment be supported by an approved voucher.

_____ 3. A set of procedures used to ensure that there is proper

accounting for all activities of the business.

_____ 4. Vouchers (not yet paid) and supporting documents stapled

together and filed either by due date or by supplier.

_____ 5. A special journal used to record purchases of all types of

assets and services.

  1. voucher system
  2. internal controls
  3. paid voucher file
  4. unpaid voucher file
  5. voucher register

Section D

DIRECTIONS: With the following information, make the appropriate entries to the voucher register. (30 points total)


VOUCHER REGISTER FOR THE MONTH OF AUGUST

DATE / Vou.
No. / Issued to / Purchases
Dr. / Supplies
Dr. / Wages
Exp. Dr. / General
Debit / Vouchers
Pay Cr. / Payment
Acct. / P/R / Amount / Date / Ck. No.