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

2. Rules Only one person is asked and can answer NO 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 Winning team gets 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 A group of accounts is known as this

6. 1 Ledger Home

7. 2 The cash account is the first asset account and is numbered __________

8. 2 110

9. 3 T or F? When all posting is completed, the journal’s Post. Ref. column is completely filled.

10. 3 TRUE

11. 4 When adding an expense account between 510 and 520, the new account # would be:

12. 4 515

13. 5 T or F? Account numbers may be assigned by 10s so new accounts can be added easily

14. 5 TRUE

15. 6 The two steps for opening an account are writing the account title and the __________ ________

16. 6 ACCOUNT NUMBER

17. 7 If the previous account balance and current entry posted are both credits, the new account balance is a ______________

18. 7 CREDIT

19. 8 The first digit in the account number 310 means that the account is in which division of the general ledger?

20. 8 OWNER’S EQUITY

21. 9 A journal entry made to correct an error in a previous journal entry is known as a _____________ ____________

22. 9 CORRECTING ENTRY

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

26. 1 Writing an account title and number on the heading of an account is known as this:

27. 1 OPENING AN ACCOUNT Home

28. 2 T or F? If a business has only two asset accounts, Cash and Supplies, Supplies is numbered 110.

29. 2 FALSE

30. 3 T or F? The posting reference in the general journal should always be recorded after amounts are recorded in the ledger.

31. 3 TRUE

32. 4 A ledger that contains all accounts needed to prepare financial statements is known as:

33. 4 GENERAL LEDGER

34. 5 The procedure for transferring information from a journal entry to a ledger account is known as:

35. 5 POSTING

36. 6 The normal balance side of an Accounts Payable account is a __________. A.DebitB. CreditC. Equity

37. 6 B. CREDIT Home

38. 7 Determining that the amount of cash agrees with the balance of the cash account is known as this:

39. 7 PROVING CASH

40. 8 The Accounting Equation is:

41. 8 Assets = Liabilities + OE

42. 9 The number assigned to a particular account is known as this:

43. 9 ACCOUNT NUMBER

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

47. 1 When the previous balance of an account is zero and a debit amount is posted, the new balance is:

48. 1 A DEBIT Home

49. 2 In what order are expense accounts listed in a chart of accounts?

50. 2 ALPHABETICAL

51. 3 What are the FIVE main general ledger divisions?

52. 3 (100) Assets (200) Liabilities (300) OE (400) Revenue (500) Expenses

53. 4 If posting is interrupted, accountants know to resume posting when?

54. 4 The line with the blank Post. Ref. Column in general journal

55. 5 When is our test?

56. 5 Tomorrow or Tuesday

57. 6 Arranging accounts, assigning account numbers, and keeping records current is known as:

58. 6 FILE MAINTENANCE

59. 7 If I were to add a Water Expense account underneath my Utilities Expense (540) account, what number would I assign?

60. 7 550

61. 8 What town does Mr. Ulmer live in? A.Lancaster B. Mechanicsburg C. Carlisle D. York

62. 8 B. MECHANICSBURG Home

63. 9 What does CPA stand for?

64. 9 Certified Public Accountant