both sides of the accountancy equation must be influenced when recording a transaction making use of the double-entry system


You are watching: All of the following statements regarding the double-entry system are true except

Economic events that call for recording in the gaue won statements space called accounting transactions.
Which that the adhering to is not an example of a source file that provides proof of a transaction?
On June 1, 2014, England Inc. Report a cash balance the $21,000. Throughout June, England make deposits of $8,000 and made disbursements totaling $24,000. What is the cash balance in ~ the end of June?
Ledger: The entire group of accounts kept by a company.Posting: carrying journal entries to ledger accounts.Debit: Left side of an account.Chart the accounts: A perform of all the accounts supplied by a company.Account: An bookkeeping record of increases and also decreases in specific assets, liabilities, and also stockholders" equity items.Trial balance: A perform of accounts and their balances in ~ a given time.Journal: reflects the debit and credit results of certain transactionsSource Document: proof that a transaction has actually taken place.Revenue account: has a credit common balanceNormal account balance: The side which rises an account.
All of the following are characteristics of every bookkeeping information system except it is a system
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Horngren"s financial & Managerial Accounting6th EditionBrenda together Mattison, Ella Mae Matsumura, Tracie Miller-Nobles


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