1. Welcome to... A Game of X’s and O’s

2. Rules Groups of two are asked and can answer as a pair NO NOTESNO NOTES Go around the room in order 3 in a row wins the game If no team gets three in a row, whichever team gets 5 marks wins the game Best of 3 series Each win is worth a bonus point

3. 789 456 123

4. 789 456 123 Scoreboard X O Click Here if X Wins Click Here if O Wins

5. 1 What is the normal balance side of any Accounts Payable account?

6. 1 CREDIT Home

7. 2 What is the normal balance side of the cash account?

8. 2 DEBIT

9. 3 The left side of a T account is called the ___?

10. 3 DEBIT

11. 4 When buying supplies with cash, which side of the cash account is affected?

12. 4 CREDIT

13. 5 The advertising expense account is increased with a ______.

14. 5 DEBIT

15. 6 When purchasing supplies with cash, which side of the supplies account is affected?

16. 6 DEBIT

17. 7 What is the normal balance side of any Accounts Receivable account?

18. 7 DEBIT

19. 8 Increases in the sales account are posted on which side of the account?

20. 8 CREDIT

21. 9 Classify the following account: Prepaid Insurance

22. 9 ASSET

25. 789 456 123 Scoreboard X O Click Here if X Wins Click Here if O Wins

26. 1 What is an accounting device used to analyze transactions?

27. 1 T ACCOUNT Home

28. 2 Classify the following account: Telephone expense

29. 2 OWNER’S EQUITY

30. 3 What is a list of accounts used by a company called?

31. 3 CHART OF ACCOUNTS

32. 4 T/F? Increases in expense accounts are recorded as debits because they decrease the owner’s capital account.

33. 4 TRUE

34. 5 When a business pays cash on account, which side of the accounts payable account is affected?

35. 5 DEBIT

36. 6 Each transaction changes the balance of a least _____ account(s)

37. 6 TWO

38. 7 Classify the account: Accounts receivable – Joe’s Crab Shack

39. 7 ASSET

40. 8 Classify the account: Sales

41. 8 OWNER’S EQUITY

42. 9 The drawing account is _____ by debits and _____ by credits

43. 9 INCREASED; DECREASED

46. 789 456 123 Scoreboard X O Click Here if X Wins Click Here if O Wins

47. 1 Bought supplies on account from Old Navy.

48. 1 DEBIT SUPPLIES; CREDIT OLD NAVY Home

49. 2 Paid cash for insurance.

50. 2 DEBIT INSURANCE; CREDIT CASH

51. 3 Paid cash to owner Frank Thomas.

52. 3 DEBIT FRANK THOMAS, DRAWING; CREDIT CASH

53. 4 Paid cash for supplies.

54. 4 DEBIT SUPPLIES; CREDIT CASH

55. 5 Wrote a check for miscellaneous expense.

56. 5 DEBIT MISCELLANEOUS EXPENSE; CREDIT CASH

57. 6 Received cash from sales.

58. 6 DEBIT CASH, CREDIT SALES

59. 7 Sold services on account to Universal Inc.

60. 7 DEBIT ACCTS REC. UNIVERSAL INC.; CREDIT SALES

61. 8 Received cash from owner Frank Thomas as an investment.

62. 8 DEBIT CASH; CREDIT FRANK THOMAS, CAPITAL

63. 9 Bought supplies on account from Rawlings Inc.

64. 9 DEBIT SUPPLIES; CREDIT ACCTS PAY. – RAWLINGS INC.