CCNA1 v3 Module 1 v3 Accounting I Midterm Review JEOPARDY K. Martin

CCNA1 v3 Module 1 RouterModesWANEncapsulationWANServicesRouterBasicsRouterCommands RouterModesWANEncapsulationWANServicesRouterBasicsRouterCommands Analyzing Transactions Source Documents Ethics and Ethics and Workplace Skills The Work The Work Sheet Financial Statements Closing Entries ► ► ► F i n a l J e o p a r d y ◄ ◄ ◄

CCNA1 v3 Module 1 Question The accounting equation. Analyzing Transactions 100 A: What is Assets=Liabilities + Owner’s Equity? accounting

CCNA1 v3 Module 1 Question A: What is debit? The normal balance of Miscellaneous Expense. CCNA1 v3 Module 1 Analyzing Transactions

CCNA1 v3 Module 1 Question A: What is an Account? A record summarizing all the information pertaining to a single item in the accounting equation. CCNA1 v3 Module 1 Analyzing Transactions 300

CCNA1 v3 Module 1 Question A: What are the Owner’s Equity Accounts? Revenue, Expenses, Capital, and Drawing. CCNA1 v3 Module 1 Analyzing Transactions 400

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What is Debit Supplies and Credit Accounts Payable, Davis Supply Company for $800. The journal entry for “Bought supplies on account from Davis Supply Company, $800.” Analyzing Transactions 500

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What are the Source Documents? Memorandum, receipt, sales invoice, check stub, and calculator tape. Source Documents

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What is a Check Stub? The source document for paying cash. Source Documents 200

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What is a Receipt? Source Documents 300 The source document used if I receive $500 from the owner as an investment.

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What is the Doc. No.? The column in the General Journal in which source documents are recorded. Source Documents 400

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What is a Memorandum? Source Documents 500 The source document used for a purchase on account.

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What is Competence? Being able to properly do your job. Ethics and Workplace Skills 100

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What are 21 st Century, Workplace, and Foundation skills? The three types of workplace skills. Ethics and Workplace Skills 200

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What is Independence? Not deliberately altering financial information to benefit yourself. Ethics and Workplace Skills 300

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What are Twenty-First Century skills? Includes problem solving skills, self- direction, and other skills that are related to the marketplace. Ethics and Workplace Skills 400

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What are Workplace skills? Technology skills, being able to quickly learn new technology, and other skills that relate directly to the workplace. Ethics and Workplace Skills 500

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What is a Work Sheet? A rough draft for financial statements. The Work Sheet 100

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What are the sections of a Work Sheet? Header, account titles, trial balance, adjustments, income statement, and balance sheet The Work Sheet 200

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What is the Account Titles column? The first column on a worksheet. The Work Sheet 300

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What is double ruling below the totals? The last step after any column total is calculated. The Work Sheet 400

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What are the Insurance Expense and Supplies Expense? The two accounts debited in the adjusting entries. The Work Sheet 500

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What is the Income Statement? The financial statement that shows revenue, expenses, and net income or net loss Financial Statements 100

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What are the sections of a Balance Sheet? Header, Assets, Liabilities, and Owner’s Equity Financial Statements 200

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What is the Balance Sheet? The financial statement that shows the financial health of a company. Financial Statements 300

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What are Company Name, Name of Report, and Date? The sections of a heading for any financial statement in order. Financial Statement 400

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What is Calculating the Component Percentages? The last step in creating the income statements Financial Statements 500

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What are the Temporary Accounts? Sales, Expenses, Drawing, and Income Summary. Closing Entries 100

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What is the Income Summary Account? Where the Sales and Expense accounts are closed. Closing Entries 200

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What is the Capital Account? Where the Income Summary and Drawing accounts are closed. Closing Entries 300

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: How is an account closed? Doing the opposite of the normal balance for the balance of the account. Closing Entries 400

CCNA1 v3 Module 1 Question CCNA1 v3 Module 1 A: What is a Net Income? A credit balance in the Income Summary account. Closing Entries 500

CCNA1 v3 Module 1 Question What are Assets-100, Liabilities-200, Owner’s Equity-300, Sales-400, and Expenses-500? The account numbers for each category in the chart of accounts. Final Jeopardy CCNA1 v3 Module