Normal Balance
The normal balance of the Cash account
What is debit?
The first step in the accounting cycle
What is identify and analyze transactions?
On a T-Account, which is on the right side?
Credit
Who is taller, Mr. Shafer or Mr. Ryan?
Mr. Ryan
What is the accounting equation?
Assets = Liabilities + Owners' Equity
The normal balance of Accounts Payable
What is credit?
The accounting cycle has ______ steps
Eight
In accounting, what means left?
Debit
Mr. Shafer graduated from what college
Frostburg State University
This statement includes revenue and expesnes
What is the income statement?
The normal balance of Owner Distribution
What is debit?
Which step comes first, using the ledger or journal?
General journal
Revenue increases with ............
What is credit?
Mr. Shafer's daughter attends what college
What is Salisbury?
This statement shows the accounting equation
What is the balance sheet?
The normal balance of Prepaid Rent
What is debit?
Post reference numbers for the General Journal come from ......
Chart of Accounts
Prepaid insurance decreases with ............
What is credit?
Mr. Shafer coached basketball at what school before Crofton
Archbishop Spalding
Net income is calculated by ..........
Revenue - Expenses
The normal balance of Unearned Service Revenue?
What is credit?
How many columns are on a worksheet?
3 - Unadjusted Trial Balance / Adjusting Journal Entries / Adjusted Trial Balance
If Unearned Service Revenue is being debited, which account is being credited?
Service Revenue
Mr. Shafer is _____ feet ______ inches
What is 6'5?
This amount is taken from the Income Statement and used for the Statement of Owner's Equity
What is Net Income?