Accounting I
The Accounting Equation can be summarized as...
Assets = Liabilities + Equity
Liabilities = Assets - Equity
Equity = Assets - Liabilities
Assets generally have a normal ___ balance
Debit
Which professor's favorite sport is Tennis, which one of their kids actively plays in?
Dr. Huang
If a train leaves a station traveling 60 MPH, how long would it take to reach the next station 300 miles away?
5 hours or 300 minutes
The name of Ball State's mascot is...
Charlie
Name two of the four basic Financial Statements.
Balance Sheet
Income Statement
Statement of Retained Earnings
Statement of Cash Flows
Name an example of a Source Document.
Bills from suppliers
Sales receipts
Checks
Purchase orders
Payroll records
Bank statements
Which professor holds a CPA license for both the state of Indiana and New York?
Dr. Moudy
34 * 20 = ...
680
The Accounting Administrative and Graduate Program Coordinator
Teresa Kennedy
Unearned Revenues are classified as...
Liabilities
Name two basic Equity Accounts.
Revenues
Expenses
Dividends
Common/Preferred stock
Income Summary
Retained Earnings
What professor previously worked at Blue Cross and Blue Shield?
Dr. Royer
What was the name of the last Queen of France?
Marie Antoinette
Is there a print smart printer inside the Whitinger building?
No
Name one of the four steps in the Accounting Process.
Identify transactions and source documents
Analyze transactions using accounting equation
Record
Post
The terms that describes the potential benefit given up when one alternative is selected over another is...
Opportunity Cost
Which professor previously worked at a clothing department, which primarily distributed to show choirs?
Dr. Reichle
What ancient civilization built the Machu Picchu complex in Peru?
The Incas
How many water fountains are inside Whitinger?
Total: 9
Floor 1: 3
Floor 2: 2
Floor 3: 4
Revenues and Expenses are closed to ___ at year end.
The Income Summary
The ratio represented by the formula [current assets/current liabilities] is known as...
The Current Ratio
Which Professor recently got married?
Dr. Westfall
How many countries are in the continent North America?
23: Canada, the United States, Mexico, and all the sovereign states in the Caribbean and Central America
The Wizard of OZ was released in what year?
1939