A financial event that causes a change in a business' financial position.
What is a business transaction.
100
This is the name of the document used to help you determine the change in financial position from 1 month to the next.
What is the equation analysis sheet.
100
This is the first step in analyzing a transaction.
What is Identifying all accounts (items) that are affected by the transaction & change them.
100
This is the letter that comes after the letter "G"
What is "H".
200
VIDEO DAILY DOUBLE!!!!
This is a 2 part question. You are to watch the following video & tell me the name of the lead actor.
Then you must perform the same routine.
http://www.youtube.com/watch?v=G4qcbmiNmBM
Who is Wil Smith & Dance baby, Dance!!!
200
This is the minimum number of accounts that must be affected during any transaction.
What is 2.
200
This important step must be done before you transfer account totals from your analysis sheet onto a new & updated balance sheet.
What is to Make sure that A = L +O.E.
200
True of False:
If a business is better off after a transaction, owner's equity will usually increase.
What is TRUE.
200
This colour end in "urple"
What is Purple.
300
This answer is a number between 1 & 10.
What is 1,2,3,4,5,6,7,8,9, or 10.
300
This is the accounting term for any type of receipt, purchase order or any type of original record of a transaction.
What is a source document?
300
You must answer the following question:
Mr. I.P. Freely, the owner of a business withdraws $500 for personal use.
Describe the accounts affected & their increase/decrease.
What is Cash (-$500) & Capital (-$500)
300
What is the fundamental accounting equation?
What is A = L + OE
300
This is the name of the "celebrity" who wore tight shorts & a bedazzled shirt on Whose Line is it Anyway?
Who is Richard Simmons.
400
This is the answer of how many chapters from the text we will cover in accounting 11.
What is either 9 or 10 chapters.
400
This is how many years a business/person should keep their financial records in case of being audited by the government.
What is 7 years.
400
Answer the following case:
You have purchased some new office furniture that costs $1500 on account (you have not paid for it) from Smith Furniture Co..
Describe which accounts are affected & their increase/decrease.
What is Furniture +$1500
Accounts Payable-Smith Furniture Co. +$1500
400
A fire has occurred at your office. The computer equipment was completed destroyed. It originally cost $3000.
What accounts are affected & show increase/decrease.
What is
Computer Equipment or Equipment -$3000
Capital -3000
400
This is the actor who played Keanu Reaves in a recent episode of Celebrity Jeopardy.
Who is Tobey Maguire
500
This is the name of the person who is the only student to fall of their chair so far this semester.
What is Julianna Lee.
500
This principle states that accounting will be recorded on the basis of objective evidence.
What is the Objectivity Principle
500
Answer the following case:
Ben Dover purchases a new company car. The car is purchased at $18 000. Ben Dover pays $8000 cash & the remaining is put on Bank Loan from his bank.
Which accounts are affected & show their increase/decrease.
What is :
Car +$18 000
Cash -$8000
Bank Loan +$10000
500
Answer the following case:
You are a lawyer. You sold your services to a client for $1200.
Describe the accounts affected & show the increase/decrease.
What is
Cash +$1200
Capital +$1200
500
This was how Sean Connery mistakely stated the word "therapists."