The Journal
This is a record of transactions recorded in chronological order.
The Journal
Cash is an example of a _____ asset
Current
The process of transferring information from the journal to the ledger.
Posting
What is an informal business paper used to organize and plan the information for the financial statements?
The Worksheet
The name of Santa's reindeer (Hint: there are 9)
Dasher, Dancer, Prancer, Vixen, Comet, Cupid, Donner, Blitzen, and Rudolph
The main journal of the business
The General Journal
Debts that run for a year or more are called
Long-term liabilities
A list of names and account numbers of all the accounts in a ledger.
Chart of Accounts
Name the three sections of the worksheet.
Balance Sheet, Income Statement, and Trial Balance
Per a recent holiday fad, what “spy” hides around the house, reporting back to Santa on who has been naughty and nice?
Elf on the Shelf
Another name for the journal
Book of Original Entry
This source document shows the details of a transaction in which goods or services are sold to a customer for cash.
Cash Sales Slip
Formal, List Form, and Machine Tape are all forms of _____
Where is the initial information for the worksheet found?
The Trial Balance
What animated 2004 film is about a train that carries kids to the North Pole on Christmas Eve?
The Polar Express
The four parts of a journal entry.
Date of transaction, account debited/amount, account credited/amount, and an explanation
Name two reasons why source documents must be kept on file.
Reference purposes, locating errors, proof of transaction
This records the assets, liabilities, and OE when a business first begins operations.
The Opening Entry
What step in the accounting cycle is the worksheet completed?
5th Step
What holiday movie sequel includes a cameo by Donald Trump?
List three advantages of the journal
Complete transaction recorded in one place, reduces errors, represents chronological history, makes it possible to determine business volume, identifies busy periods, provides a picture of each day's business
This source document informs the business of a decrease made in the business' bank account.
Bank Debit Advice
In the Chart of Accounts, an account is given the number 401. What type of account is this?
Revenue Account
What is the last step in preparing the worksheet?
Adding single and double lines
What beverage company has been using Santa Claus in its advertising since 1931?
Coca-Cola