Part 2 — REVIEW QUESTIONS ON THE SUBJECT OF THE VOUCHER SYSTEM
Reading edition
1. State, in your own words, the generally accepted meaning of the term voucher, as used in business.
2. What is the nature of a journal voucher, and for what purpose is it used?
3. Prepare a form of voucher to be accompanied by a separate check.
4. Prepare a form of voucher check.
5. For what book is the voucher register substituted? What book is dispensed with?
6. Explain the purpose of the sundries and unpaid voucher columns in the voucher register.
7. With what controlling account must the total of unpaid vouchers as shown by the register, agree? Explain the sources of debits and credits posted to this controlling account.
8. Prepare a form of voucher register, suitable for a manufacturing business using three classes of raw material, operating five shops, and selling the product through traveling salesmen.
9. What are the necessary steps in auditing, executing, and registering vouchers? How should audited vouchers be filed?
10. Describe the routine in paying vouchers, and in filing invoices and paid vouchers. How should vouchers be indexed?
11. What is the distinguishing feature of the unit system of voucher accounting?
12. If a voucher pays items to be charged to three accounts, how many copies are required and how is the distribution shown?
13. Explain the method of filing and recording vouchers in the unit system. How are monthly totals recorded?
14. What routine should be followed to carry the totals to the ledger?
15. Describe, and illustrate with the necessary forms, a system in which a purchase ledger and invoice file are combined.
16. What is a private ledger and for what purposes is it used?
17. Name some of the special advantages of the private ledger.
18. Describe, briefly, the operation of the private ledger, giving an example.
19. Describe, and illustrate with journal entries, in what way a manufacturer can make use of the private ledger.
20. Transactions of the following classes are recorded on the books of Dane & Whitney:
Purchases on Account Sales on Account Paid for Rent Paid Dane's Salary Sales for Cash Whitney advanced cash to the business.
What items, in the above, should be recorded in the private ledger?
21. In charting the accounts of a business, into what three main groups should they be divided? Give an example of the subdivision of one of these groups.
22. Prepare a chart of the accounts of a small trading business conducted by a partnership. Explain this chart.
23. Prepare a chart of the accounts of a manufacturing business making three classes of goods.
24. What are the principal characteristics of a chart of accounts of a manufacturing business?
25. Using the above manufacturing chart, explain how profits are traced from group to group until they reach the surplus account.