2. Jeopardy Template By Christa Lapointe Chapter 4

3. Jeopardy Category1Category2Category3Category4 100 200 300 400 500

4. Credits  That’s all folks. Exit

5. Category 1 $100  First step in the accounting cycle

6. Category 1 $100  ORIGINATING DATA

7. Category 1 $200  Second step in the accounting cycle

8. Category 1 $200  JOURNALIZING

9. Category 1 $300  Third step in the accounting cycle

10. Category 1 $300  POSTING

11. Category 1 $400  What is the fourth step in the accounting cycle

12. Category 1 $400  TRIAL BALANCE

13. Category 1 $500  Transferring debit and credits from the journal to the ledger.

14. Category 1 $500  POSTING

15. Category 2 $100  Checking to see if the debits and credits equal at the bottom of a journal page.

16. Category 2 $100  JOURNAL PROOF

17. Category 2 $200  An entry that involves more than two entries is known as a ________________ entry.

18. Category 2 $200  COMPOUND

19. Category 2 $300  101-199  201-299

20. Category 2 $300  ASSETS  LIABILITIES

21. Category 2 $400  Book of Original Entry

22. Category 2 $400  JOURNAL

23. Category 2 $500  Book of Secondary Entry/Final Entry

24. Category 2 $500  LEDGER

25. Category 3 $100  What is the last step in the posting process.

26. Category 3 $100  POST REFERENCE

27. Category 3 $200  Rules for using dates in the date column

28. Category 3 $200  2009  Nov. 8  22  Dec. 1  2

29. Category 3 $300  A summary of the balances of the ledger accounts is known as a ___________________.

30. Category 3 $300  TRIAL BALANCE

31. Category 3 $400  Documents that give evidence that a transaction took place.

32. Category 3 $400  SOURCE DOCUMENTS

33. Category 3 $500  The GAAP used by accountants to prove that a business transaction did occur.

34. Category 3 $500  OBJECTIVITY PRINCIPLE

35. Category 4 $100  Revenue and Capital have a _________ balance.  Expenses and Drawings have a _________ balance.

36. Category 4 $100  CREDIT  DEBIT

37. Category 4 $200  A list of all accounts of the business with their account numbers is called the _____________.

38. Category 4 $200  CHART OF ACCOUNTS  101-199 assets  201-299 liabilities  301-399 owner’s equity  401-499 revenue  501-599 expenses

39. Category 4 $300  Examples of source documents

40. Category 4 $300  SALES INVOICE – providing a sale / revenue  PURCHASE INVOICE – received when buying something  REMITENCE SLIP – receipt when a cheque comes in  DEPOSIT SLIP – what you get from the bank when depositing money  CHEQUE STUB – show where and how much every cheque is for  OPENING BALANCE SHEET – beginning of a business

41. Category 4 $400  Advantages of journals

42. Category 4 $400  CHRONOLOGICAL ORDER  EQUIALITY CHECKS

43. Category 4 $500  Expense Principle  Revenue Principle  Entity Concept  Matching Principle

44. Category 4 $500  RECOGNIZE EXPENSES AND REVENUE WHEN IT TAKES PLACE, NOT WHEN MONEY CHANGES HANDS  ENTITY – DIFFERENCE BETWEEN PERSONAL AND BUSINESS ACCOUNTS  MATCHING – COMPARING REVENUE AND EXPENSES FOR THE SAME ACCOUNTING PERIOD

45. Double Jeopardy General Journal  Personal investment of 20 000 from Lapointe into the business. (deposit slip)  Bought a truck for 10 000 on account from MJ Ford (purchase invoice 212) Post to the General Ledger  Accounts needed: cash (101), capital (301), truck (109) and acc.pay./MJ Ford (202)