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 one-year insurance policy. b. Paid employee payroll Provided services to a customer on account. d. Identified supplies in the storeroom destroyed by fire e. Received payment of bills from customers. 1. Purchased land for future expansion 9. Calculated taxes due h. Entered into a car lease agreement and paid the tax, title, and license Required: For each items (a) through th) 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, 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 and not applicable Items Source Document(s) Information Most Useful in Recording the Event invoices amount and period covered tid number of hours worked and hourly rate of pay or periodic salary invoices number of hours worked and hourly rate of pay or periodic salary lease agreement time cards not applicable time cards; employment contracts amount received and customer name purchase price and amount pald this event would not be recorded VERBAL not applicable h. lease agreement amounts paid for taxes, title and license d. th 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 one-year insurance policy b. Paid employee payroll c. Provided services to a customer on account. d. Identified supplies in the storeroom destroyed by fire e. Received payment of bills from customers. Purchased land for future expansion 9. Calculated taxes due h. Entered into a car lease agreement and paid the tax, title, and loense Required: b For each items (a) through (h) isted above, identify one or more source documents that are generated from the event, and which source document would be used to record the event, 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 and not applicable" Items Source Document(s) Information Most Useful in Recording the Event invoices amount and period covered time cards, employment contracts nun amount and period covered work papers nun amount of sale d. this event would not be recorded amounts owed on work papers remittance copy of the bills amount received and customer name bill of sale number of hours worked and hourly rate of pay or periodic salary this event would not be recorded not applicable h. lease agreement