Vocab
The Net Income is entered on the credit or debit side of the Balance Sheet section
Credit
When Expenses are greater than revenues, you have a…
Net Loss
Who is the superintendent of the Council Rock School District?
Dr. Sanko
Normal Balance side for assets, expenses, and owner’s withdrawals
Debit
How long have I been working at CR North?
First year
The Who, What, and When of a worksheet is called the…
The “heading”
When Revenues are greater than expenses, you have a
Net Income, Net Profit, Net Gain
What is the name of the new mascot here at CR North?
Rocky
Normal Balance side for liabilities, revenues, and owner’s capitol
Credit
What school did I work at before CR North?
Abington Senior High School
Name of the single line that indicates everything above should be added. Double line means the section is complete
Ruling Line
Contains owner’s accounts, asset accounts, and liability accounts on the six column worksheet.
The Balance Sheet
The business department has 5 teachers. Who are they?
Mr. Sherpinsky, Mr. Schrack, Mrs. Ladzinski, Mr. Martinelli, Ms. Rees
When an account has a line in their trial balance, what does that mean?
The account has a zero balance
What sport does my fiancee coach?
Boys Volleyball
What are the first two columns on the work sheet used for?
Trial Balance
Contains expenses, revenues on the six column worksheet
The Income Statement
What is the address of Council Rock North? (Only street name and address #)
62 Swamp Road
What are the last two columns on the six column worksheet for?
Balance Sheet
What club am I the sponsor of?
Pickleball Club
The Sixth Step in the Accounting Cycle (What have we been filling out for the last two weeks?)
The Six Column Worksheet
Name the five sections of the work sheet
Heading, account name and number, trial balance, income statement, and balance sheet
Who is the principal of CR North? SPELLING COUNTS!
Mr. Traczykiewicz
Where does the information from the Worksheet come from?
The General Ledger
What college did I get my Master's Degree from?
Gwynedd Mercy University