Question
79 Identification of Events with Source Documents Many events are linked to a source document. The following is a list of events that occurred
79 Identification of Events with Source Documents Many events are linked to a source document. The following is a list of events that occurred in an entity: a. Paid a security deposit and six months' rent on a building. b. Hired three employees and agreed to pay them $400 per week. c. Provided services to a customer for cash. d. Reported a fire that destroyed a billboard that is on the entity's property and that is owned and maintained by another entity. e. Received payment of bills from customers. f. Purchased stock in another entity to gain some control over it. 9. Signed a note at the bank and received cash. h. Contracted with a cleaning service to maintain the interior of the building in good repair. No money is paid at this time. Required: For each items (a) through (h) listed above identify one or more source documents that are generated from the event and which source document would be used to record the event, if any, and identify the information that is most useful in recording the event. If the item is not recorded, select, "this event would not be recorded for and "not applicable Items a. b. C. d. 6 Source Document(s) Information Most Useful in Recording the Event checks paid and deposit receipts Invoices loan agreement and other bank documents remittance copy of the bills this event would not be recorded
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