4.1
4.2
4.3
4.4
General
100
What side does Assets belong?
On the debit side
100
If your bank account gains money which side does it belong?
On the Debit side.
100
How many steps do you need to calculate the balance of the account?
2, You need to add both sides separately and then Subtract the smaller total from the larger one.
100
If a ledger is in balance it means what?
The debits are equal to the credits
100
What is the name of Mrs. Irelands dog
Tinkerbell
200
Which side does Capital belong
On the Credit side
200
What is an accounting entry?
It is all of the changes in the accounts caused by one business transaction in terms of debit and credit.
200
What is a Pin Total
It is Tiny pencil figure used in accounts and journals
200
Why do you use a trial balance?
To see if there are any errors in a ledger.
200
Who made the song of the Debit Credit Theory
Colin Dodds
300
How do you know your ledger is rights
All Credits equal Debits.
300
What is the Double Entry System of Accounting?
When every transaction is record both as debit on one side and credit on the other.
300
A item purchased on credit is an example of on account
On Account
300
What is a trial balance?
It is a listing of account balances in a ledger
300
Whats brown and sticky?
A stick
400
What is a ledger?
It is a group or file of accounts
400
What is the Debit Credit Theory?
It is Debits on the left, Credits on the Right
400
Why do businesses make payments with cheques or electronic fund instead of cash?
It is easier to send and it wont tempt people to steal it.
400
If the two totals in a trial balance it is ____
Out of Balance?
400
WHere is David Thomson School
In Vancouver
500
What is an account?
It is a page specially designed to record the change in each individual item affecting the financial position.
500
If capital decrease it goes on _______
Debit
500
What is an Exceptional Account Balance
It is when a account usually that is a debit is a credit, or vie versa.
500
If you add all the debits and minus it by the credits, What should it equal ?
0
500
What is Mrs. Ireland's first name
Judy
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