Question

In: Accounting

Accounting involves the use of “Source Documents”.  Which of the following are not examples of source documents...

Accounting involves the use of “Source Documents”.  Which of the following are not examples of source documents for financial accounting purposes:   

A. Invoices

B. Sales Receipts

C. Month End Inventory listing

D. Daily Deposits

E. Payroll check stubs

F. Storeroom Acquisitions

Solutions

Expert Solution

source documents :

A source document is the original record containing the details to substantiate a transaction entered in an accounting system. For example, a company's source document for the recording of merchandise purchased is the supplier's invoice supported by the company's purchase order and receiving ticket.

1.Invoices:

a list of goods sent or services provided, with a statement of the sum due for these; a bill.

yes invoice is a source document

2.Sales Receipts:

A document which typically shows the date and time a purchase was made, items purchased, amount of purchase price and totals, the name and location of store/entity where the purchases were made, and supplemental information concerning store returns, the method of payment used and other relevant sales-related

3.Month End Inventory listing :

Ending inventory is the amount of inventory a company has in stock at the end of its fiscal year. It is closely related with ending inventory cost, which is the amount of money spent to get these goods in stock. It should be calculated at the lower of cost or market.

4.daily deposit :

Bank deposits consist of money placed into banking institutions for safekeeping. These deposits are made to deposit accounts such as savings accounts, checking accounts and money market accounts.

5.Payroll check stubs :

The pay stub (also called payslip or paycheck stub) is an itemized list of an employee's wages and deductions for a specified pay period that may be attached to a check, or given to an employee upon a direct deposit transaction.

6.Storeroom Acquisitions:

An acquisition is a situation whereby one company purchases most or all of another company's shares in order to take control. An acquisition occurs when a buying company obtains more than 50% ownership in a target company.

from the given list the following are examples of source documents :

1.sales receipts

2.invoices

some other examples of sorce documents :

Bank statement
Cash register tape
Credit card receipt
Lockbox check images
Packing slip
Sales order
Supplier invoice
Time card


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