Chapter 5
An endorsement consisting of only the endorser's signature
Blank Endorsement
Check
Asset, Debit, Cash
Name the two accounts affected: paid for supplies with a check
supplies, cash
Fund Total 100
Miscellaneous Expense 20
Advertising Expense 14
Recorded amount on hand 66
Actual amount on hand 65
Cash short or cash over?
Cash short
Who can shave 25 times a day but still have a beard?
A barber
An endorsement indicating a new owner of a check
special endorsement
Owner invests money into a business
Owners Equity, Credit, Capital
Name the two classifications affected: Paid for supplies on account
Assets, Liabilities
Correct steps in posting from the debit column of a General Journal to the General Ledger (there are five)
1. Write the date
2. Write the journal page number in the post
3. Write the debit amount
4. Write the new balance
5. Return to journal and write the account number in the post ref column of the general journal
What gets wet while drying?
A Towel
A special fee classified as a business expense a business collects when a check "bounces"
NSF or non-sufficient funds labeled "service fee"
(A bank charges this fee to the business, then the business tries to collect the original amount of the check plus the fee from the customer who wrote the check)
The account credited when cash is received from services
Revenue credit sales
Which years did the Nebraska Cornhuskers win national championships: I will accept 3/ 5
1970, 1971, 1994, 1995, 1997
Correct steps in posting from the Credit column of a General Journal to the General Ledger (there are five)
1. Write the date
2. Write the journal page number in the post
3. Write the Credit amount
4. Write the new balance
5. Return to journal and write the account number in the post ref column of the general journal
What do you call a baby owl
an owlet
What accounts are debited and credited in a general journal to record a dishonored check.
Debit Accounts Receivable
Credit Cash
This is the day of the year when Mr. Shroyer was born
April 2nd
Name the two Accounts one would journalize when accounting for a dishonored check
Accounts receivable, cash
What are the names of the top six most populated islands of Hawaii
Oahu, Hawaii, Kawai, Maui, Molakai, Lanai
How many Great Lakes are there
5
What is the name of the account and classification when petty cash on hand is less than the recorded amount
Cash short, Expense
When the recorded amount of cash recorded is less than the amount of cash on hand
Expense, Credit, Cash Short and Over
The source document for supplies purchased using a debit card
Memorandum
When a Owner withdrawals money from their business which two accounts are affected
Cash, Drawing
What is the name of the most handsomest boy? (aka my dog)
Took