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BUS 101 Accounting Jeopardy… "Jeopardy" is a registered trademark of Sony Pictures.
Today’s Categories… Cash Merchandising Organizations Accounting Terminology Financial Cents The Balance Sheet Which Statement?
Cash Financial Cents Balance Sheet Which Statem’t? $100100$100100$100100$ $200200$200200$200200$ $300300$300300$300300$ $400400$400400$400400$ $ Actg Terms $ $ $ $ $ Mdsing Orgs $ $ $ $ $500500$500500$500500$ Team 1Team 2Team 3
Cash - $100 Increases in any asset account are shown on a T account’s: What is Debit side? Back to Board
Cash - $200 Increases in any owner’s capital account are shown on a T account’s. What is “Credit side”? Back to Board
Cash - $300 A sale to a customer for which cash will be received at a later date is recorded under. What is “Accounts Receivable”? Back to Board
Cash - $400 When supplies are bought on account. What is Assets increase; liabilities increase? Back to Board
Cash - $500 The beginning cash balance, zero. Total of journal’s Cash Credit Column, $7, Total of journal’s Cash Debit Column, $9, The ending cash balance is. What is “$1,550.00”? Back to Board
Merchandising - $100 When merchandise is purchased on account. What is “Purchases is debited; Accounts Payable is credited? Back to Board
Merchandising $200 During a fiscal period, when a business buys merchandise the transaction is recorded under. What is “Purchases”? Back to Board
Merchandising $300 A post-closing trial balance shows: What is “That debits equal credits after closing entries are posted”? Back to Board
Merchandising $400 If an employee who earns $5.00 an hour has worked 5 hours of overtime and is paid time-and-a-half of overtime, what his/her overtime pay. What is “$37.50”? Back to Board
Merchandising $500 When a company sells merchandise, it credits this account for the cost of the goods that went out the door with the customer. What is the Inventory account? Back to Board
Terminology $100 When the petty cash fund is replenished, the balance of the petty cash account. What is “Remains the same”? Back to Board
Terminology $200 Transferring information from a journal entry to a ledger account is called. What is “Posting”? Back to Board
Terminology $300 DAILY DOUBLEDAILY DOUBLE!!!
Terminology $400 The totals of the general amount columns in a journal are. What is “Not Posted”? Back to Board
Terminology $500 An example of a subsidiary ledger is. What is “An Accounts Payable Ledger”? Back to Board
Financial “Cents” - $100 A net income results when. What is “Total revenue is greater than expenses”? Back to Board
Financial “Cents” - $200 The information needed for journalizing the adjusting entries is obtained from the: What is “Work Sheet’s Adjustments Columns”? Back to Board
Financial “Cents” - $300 One adjustment made on a worksheet for a merchandising business is: What is “Merchandise Inventory”? Back to Board
Financial “Cents” - $400 The supplies inventory adjustment includes a debit to Supplies Expense and a credit to: What is “Supplies”? Back to Board
Financial “Cents” - $500 In order to close Sales account: What is “Debit Sales; credit Income Summary”? Back to Board
Balance Sheet - $100 Account balances extended to the balance sheet columns of a worksheet include. What is “Cash, accounts payable, and owner’s drawing”? Back to Board
Balance Sheet - $200 Allowance for Bad Debt appears under this major section of the Balance Sheet. What are “Assets”? Back to Board
Balance Sheet $300 Warranty Obligations appears under this major section of the Balance Sheet. What is the “Liabilities” section of the Balance Sheet? Back to Board
Balance Sheet - $400 Unearned Revenue appears under this major section of the Balance Sheet. What is the “Liability” section of the Balance Sheet? Back to Board
Balance Sheet - $500 A financial statement that reports the financial condition of a business is a(n). What is “The Balance Sheet”? Back to Board
Which Statement $100 What is “The Work Sheet’s Income Statement Columns”? Back to Board Information needed for recording the closing entries is obtained from:
Which Statement $200 A columnar accounting form used to summarize the general ledger information needed to prepare financial statements is a(n). What is “Worksheet”? Back to Board
Which Statement $300 A financial statement showing the revenue and expenses for a fiscal period is a(n). What is “Income Statement”? Back to Board
Which Statement $400 A balance sheet is a financial statement that reports. What is “Assets, Liabilities, and Owner’s Equity? Back to Board
Which Statement $500 Wages Payable to Employees appears on this statement. What is the Balance Sheet? Back to Board
Daily Double Specify Your Wager!
Terminology --- The federal tax paid by employees and employers for old age, survivors, disability and hospitalization insurance is:
Terminology --- Back to Board The federal tax paid by employees and employers for old age, survivors, disability and hospitalization insurance is: What is “FICA tax”
Accounting and Financial Reporting Back to Table of Contents.
Home. Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.Glencoe Accounting Adjustments transfer the cost of “used up” assets to expense.
CHAPTER 11 RECORD KEEPING AND ACCOUNTING February 12, 2014ENTREPRENEURSHIP (Ms. Hawkins)1 This chapter describes the importance of keeping business records.
1. Record a trial balance on a worksheet. 2. Complete the worksheet. 3. Prepare the income statement, statement of owners equity, and balance sheet from.
Welcome to... A Game of X’s and O’s. Rules Only one person is asked and can answer NO NOTES Go around the room in order 3 in a row wins the game If no.
Chapter 4-1 Completing the Accounting Cycle Accounting Principles, Ninth Edition.
ACCOUNTING REVIEW ACCOUNTING JEOPARDY DOCSEDA Debit/CreditAdjustments Income Statement Balance SheetStatement of Equity
Home. Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.Glencoe Accounting The work sheet organizes general ledger account information.
6–16–1 1-1 Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.
Chapter 7 Accounting Information Systems Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin.
Accounting Jeopardy Century 21 Accounting Chapter 6 by Mrs. Saylor.
Conducted by: Mr. Koy Chumnith Review of the Accounting Process , Royal University of Law and Economics McGraw-Hill/Irwin.
ACCOUNTING II MS. ALLTUCKER CH. 14 SECTION 2: ANALYZING SALES TRANSACTIONS.
Unit # 3 – Recording Transactions in T-Accounts. We will now learn that when dealing with balances in All Accounts, you will need to know: Debit means.
Revenues & Expenses Other Terms Review Potpourri $100100$100100$ $200200$200200$ $300300$300300$ $400400$400400$ $ Dr/Cr.
Learning Objectives 14.1 Describe the importance of accounting and financial information Differentiate between managerial and financial accounting.
© The McGraw-Hill Companies, Inc., 2005 McGraw-Hill/Irwin Analyzing and Recording Transactions Chapter 2 2.
McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 8 Purchasing/ Human Resources/ Payment Process: Recording.
Accounting Chapter 11 – Test Review. TRUE or FALSE? A general ledger sorts and summarizes all information affecting income statement and balance sheet.
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 12 SLIDE Financial Planning Financial Records.
©The McGraw-Hill Companies, Inc. 2006McGraw-Hill/Irwin Chapter 4 Accounting for Branches Combined Financial Statements.
Journalizing Sales and Cash Receipts Using Special Journals.
Home. Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.Glencoe Accounting Owner’s equity in a corporation is called stockholders’ equity.
Chapter McGraw-Hill/Irwin Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Accounting Records and Systems 4.
© The McGraw-Hill Companies, Inc., 2002 McGraw-Hill/Irwin THE ACCOUNTING CYCLE: Capturing Economic Events Chapter 3.
From T to TB Dr. Clive Vlieland-Boddy. 2 Objective 1 Prepare and use a trial balance (TB)
G P Sessions, JD Work Sheets Accounting 1 Chapter 6.
Investing and Financing Decisions and the Balance Sheet Chapter 2 McGraw-Hill/Irwin © 2009 The McGraw-Hill Companies, Inc.
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