Answer:
Give some examples of source documents.
➢ Define an account. What are the two forms of account posting illustrated in the chapter?➢ What is meant by the term double-entry procedure, or duality?
➢ Describe how you would determine the balance of a T-account.
➢ Define debit and credit.
➢ Do you think this double entry accounting system makes sense? Can you conceive of other possible methods for recording changes in accounts?
➢ Which of the steps in the accounting cycle are performed throughout the accounting period?
➢ What is the purpose of the Dividends account and how is it increased?