Financial Statements
Adjusting/Closing Entries
Posting
The Accounting Cycle
Accounting Vocabulary
100
What is the name of the far right column?
What is % of sales
100
Where are the adjusting closing entries journalized from?
What is the work sheet
100
When do you write the account title?
What is step 1
100
What is the step where transactions are recorded in a journal
What is step 2
100
What is a financial statement that reoprts assets, liabilities, and owner's equity on a specific date called?
What is a balance sheet
200
What is the title of the sales column?
What is revenue
200
What kind of accounts are included on a post-closing trial balance?
What is accounts with a remaning balance
200
What step do you write the account number?
What is step 2
200
What is the step where journal entries are posted in the general ledger?
What is step 3
200
What is it transferring informetion from a journal entry to a ledger account called?
What is posting
300
What is the column belor total expenses?
What is net income
300
Where are the adjusting and closing entries posted?
What is the general ledger
300
When do you write the credited or debited amount?
What is step 3
300
What step is when financial statements are prepared for the worksheet?
What is step 5
300
What is a report of deposits, withdrawls, and bank balances sent to a depositor by a bank?
What is a bank statement
400
What is the column of the expenses called?
What is expenses
400
What kind of accounts do not appear on a post-closing trial balance?
What is accounts with zero balance
400
When do you write the new account debited number?
What is step 4
400
What is the step when adjusting and closing entries are journalized from the work sheet?
What is step 6
400
What is a check that the bank refuses to pay?
What is dishonored check
500
What is the column called that the expenses are placed?
What is debit
500
What must the total of all debits equal in a general ledger?
What is the total of credits
500
What step do you add in the post relief column, the account number?
What is step 5
500
When is a post-closing trial balance of the general ledger prepared?
What is step 8
500
What is a change recorded on a work sheet called?
What is an adjustment
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