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By Christa Lapointe Chapter 4
Jeopardy Template By Christa Lapointe Chapter 4
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Jeopardy Category1 Category2 Category3 Category4 100 200 300 400 500
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Credits That’s all folks. Exit
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Category 1 $100 First step in the accounting cycle
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Category 1 $100 ORIGINATING DATA
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Category 1 $200 Second step in the accounting cycle
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Category 1 $200 JOURNALIZING
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Category 1 $300 Third step in the accounting cycle
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Category 1 $300 POSTING
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Category 1 $400 What is the fourth step in the accounting cycle
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Category 1 $400 TRIAL BALANCE
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Category 1 $500 Transferring debit and credits from the journal to the ledger.
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Category 1 $500 POSTING
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Category 2 $100 Checking to see if the debits and credits equal at the bottom of a journal page.
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Category 2 $100 JOURNAL PROOF
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Category 2 $200 An entry that involves more than two entries is known as a ________________ entry.
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Category 2 $200 COMPOUND
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Category 2 $300
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Category 2 $300 ASSETS LIABILITIES
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Category 2 $400 Book of Original Entry
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Category 2 $400 JOURNAL
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Category 2 $500 Book of Secondary Entry/Final Entry
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Category 2 $500 LEDGER
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Category 3 $100 What is the last step in the posting process.
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Category 3 $100 POST REFERENCE
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Category 3 $200 Rules for using dates in the date column
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Category 3 $200 2009 Nov. 8 22 Dec. 1 2
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Category 3 $300 A summary of the balances of the ledger accounts is known as a ___________________.
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Category 3 $300 TRIAL BALANCE
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Category 3 $400 Documents that give evidence that a transaction took place.
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Category 3 $400 SOURCE DOCUMENTS
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Category 3 $500 The GAAP used by accountants to prove that a business transaction did occur.
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Category 3 $500 OBJECTIVITY PRINCIPLE
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Category 4 $100 Revenue and Capital have a _________ balance.
Expenses and Drawings have a _________ balance.
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Category 4 $100 CREDIT DEBIT
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Category 4 $200 A list of all accounts of the business with their account numbers is called the _____________.
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Category 4 $200 CHART OF ACCOUNTS 101-199 assets 201-299 liabilities
owner’s equity revenue expenses
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Category 4 $300 Examples of source documents
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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
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Category 4 $400 Advantages of journals
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Category 4 $400 CHRONOLOGICAL ORDER EQUIALITY CHECKS
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Category 4 $500 Expense Principle Revenue Principle Entity Concept
Matching Principle
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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
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Double Jeopardy General Journal
Personal investment of from Lapointe into the business. (deposit slip) Bought a truck for 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)
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