1. By Christa Lapointe Chapter 4
Jeopardy Template
By Christa Lapointe
Chapter 4

2. Jeopardy
Category1
Category2
Category3
Category4
100
200
300
400
500

3. Credits
That’s all folks.
Exit

4. Category 1 $100
First step in the accounting cycle

5. Category 1 $100
ORIGINATING DATA

6. Category 1 $200
Second step in the accounting cycle

7. Category 1 $200
JOURNALIZING

8. Category 1 $300
Third step in the accounting cycle

9. Category 1 $300
POSTING

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

11. Category 1 $400
TRIAL BALANCE

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

13. Category 1 $500
POSTING

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

15. Category 2 $100
JOURNAL PROOF

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

17. Category 2 $200
COMPOUND

18. Category 2 $300

19. Category 2 $300
ASSETS
LIABILITIES

20. Category 2 $400
Book of Original Entry

21. Category 2 $400
JOURNAL

22. Category 2 $500
Book of Secondary Entry/Final Entry

23. Category 2 $500
LEDGER

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

25. Category 3 $100
POST REFERENCE

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

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

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

29. Category 3 $300
TRIAL BALANCE

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

31. Category 3 $400
SOURCE DOCUMENTS

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

33. Category 3 $500
OBJECTIVITY PRINCIPLE

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

35. Category 4 $100
CREDIT
DEBIT

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

37. Category 4 $200 CHART OF ACCOUNTS 101-199 assets 201-299 liabilities
owner’s equity
revenue
expenses

38. Category 4 $300
Examples of source documents

39. 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

40. Category 4 $400
Advantages of journals

41. Category 4 $400
CHRONOLOGICAL ORDER
EQUIALITY CHECKS

42. Category 4 $500 Expense Principle Revenue Principle Entity Concept
Matching Principle

43. 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

44. 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)