Chps 3 & 4
Chps 5 & 6
Chps 7 & 8
Chps 9 & 10
Chp 11
100
This is an example of a liability account
What is accounts payable
100
The normal balance side for a revenue account is the __________
What is credit side
100
__________ is the process of transferring information from the journal to the ledger accounts
What is Posting
100
After the closing entries have been posted, the balance in the __________ reflect(s) the net income or net loss and the withdrawals for the period
What is Capital Account
100
__________ is (are) the most liquid asset of a business
What is Cash
200
This affects at least two accounts.
What is business transaction
200
__________ means the increase side of an account.
What is Normal Balance
200
A work sheet is used to collect information from the ____________ accounts
What is ledger
200
________ reports the final balances of the permanent accounts at the end of the fiscal period
What is Balance Sheet
200
Bank service charges should be recorded in the checkbook before ________ the bank statement
What is reconciling
300
The normal balance side for an asset account is this
What is debit side
300
Withdrawals are increased __________
What is on the debit side
300
All __________ are listed in the credit column of the Income Statement section
What is revenue accounts
300
The changes in the _______ are reported in the statement of changes in owner’s equity.
What is owner’s capital account
300
A stop payment order is a request that a ____________
What is bank not pay a check
400
A(n) __________ to a liability account decreases the account balance.
What is debit
400
A __________ is a business paper that proves a transaction occurred
What is source document
400
A(n) __________ is entered in the debit column of the Balance Sheet section at the bottom
What is net loss for the period
400
__________ represents the basic accounting equation on the worksheet
What is Balance Sheet
400
__________ are the most frequent causes for differences between the bank statement balance and the checkbook balance
What is Outstanding checks and voided checks
500
A(n) __________ to one asset account and a credit to another asset account will result in the basic accounting equation being out of balance.
What is credit
500
__________ is a series of activities a business completes over a period of time
What is The accounting cycle
500
An example of a transposition error is writing the number __________ when you should have written 54
What is 45
500
Closing entries transfer the net income or net loss to the __________
What is Capital Account
500
An example of an ____________ is the daily deposit of cash receipts in the bank
What is internal control
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