1. Source Document Answer Key
Chapter 6: Answer the following questions based on source documents

2. 1. What proof does a source document provide for a company
1. What proof does a source document provide for a company? For an auditor? See p. 184
Company: Reference purposes, locating errors.
Auditor: proof that the accounting records have been prepared accurately and honestly

3. 2. List 8 additional supporting documents and vouchers. See p. 192-193
Receipts, such as those for donations or postage
Bills, such as hydro or telephone charges
invoices
Online banking transactions with accompanying confirmation numbers
Insurance endorsement certificates
Written memos from the owner
Bank statements
Cash register tapes

4. Description of Transaction
3. Complete the ‘Summary Chart’ below. Refer to p Pay particular attention to the accounting entry for each source document!
Source Document
Description of Transaction
ACCOUNTING ENTRY
Account Debited
Account Credited
Cash Sale Slip
POS (point of sale) Summary
A sale of goods or services for cash
Bank
Sales or Revenue
Sales Invoice
Charge Sales Slip
A sale of goods or services on account
Accounts Receivable
Purchase Invoice
A purchase of goods or services on account
An expense account, such as Advertising
An asset account, such as Supplies or Equipment
Accounts Payable
Cheque Copy
Paying an account payable
Cash purchase of an asset
Cash payment for an expense
Owner draws out money for personal use
A liability account, such as Accounts Payable
An asset account, such as Automobiles
An expense account, such as Rent Expense
The Drawings account
Cash Receipts Daily
Summary
The cheques received from customers on account
Bank Debit Advice
Bank account decrease
Interest expense or other account
Bank Credit Advice
Bank account increase
Interest Earned or other account

5. 4. Complete ex. 1 to 5 (all parts of each exercise). p. 193-196 (t) p
4. Complete ex. 1 to 5 (all parts of each exercise). p (t) p (w)