8/26 Chapter 1

Question 1

The Begin syllabus

Answer 1

has the due dates first due date is 9/23

Question 2

Textbook

Answer 2

read the graphs they are very helpful

Question 3

Grading is

Answer 3

curved, very competitive

Question 4

Class will cover

Answer 4

Financial and Control

Question 5

Reading

Answer 5

before class

Question 6

Exams

Answer 6

50 to 60 multiple choice and an essay

Question 7

Late Assignments

Answer 7

Are not accepted, they are due at 6 pm

Question 8

TA email

Answer 8

beth.brown@utah.edu

Question 9

Objectives of SUA

Answer 9

overall objective of the SUA is to help see the whole process
introduce common business documents
introduce flowcharts and key internal controls

Question 10

Basic Accounting Process

Answer 10

1. transactions
2. journal entries
3. posting
4. trial balance
5. worksheet
6. adjusting journal entries
7. financial statements
8. closing the books

Question 11

SUA Reference Guide

Answer 11

read every page, it will be on the test, everything you need is included in the packet

Question 12

Journals

Answer 12

general journal,

Question 13

general journal

Answer 13

1. record transactions that do not occur on a daily basis, it is irregular.
2. taxes
3. closing out accounts
4. close out all of your expense accounts into your income summary
5. then close out all of your revenue accounts into your income summary

Question 14

types of ledgers

Answer 14

sub-ledgers - you will be making posts to sub ledgers,
general ledger - do not post anything to the general ledger until you have posted all of your transactions, is a year end occurance

Question 15

The project

Answer 15

1. Instructions, flowcharts, and ledgers
2. Journals, documents, and related records
3. File Tabs - you will use the file tabs to file the documents according to the instructions

Question 16

Shred the blue copy

Answer 16

you are using the green transaction list transaction list B, also used in quickbooks

Question 17

Sales Journal

Answer 17

You have to have the double line to say if you

Question 18

Cash Receipts Journal

Answer 18

when you get cash you have to put it in this, note the deposit control the same person who got the cash can’t initial this. Only nancy ford can initial it when the bank gives her a valid deposit receipt, the 7106.96 and the 825 are added together on the deposit receipt.

Question 19

Purchase Journal

Answer 19

Only if you purchased inventory

Question 20

Cash Disbursements Journal

Answer 20

When cash is paid

Question 21

Payroll Journal

Answer 21

When you pay your employees, this will also be included on the cash disbursements and it will reference to the payroll journal