Chapter 5
Chapter 5 too
Chapter 5 again
Chapter 4
Chapter 4 too
100
Name the accounts - adjusting entry for supplies
What are Supplies expense/Supplies?
100
Name the account debited when adjusting supplies
What is Supplies Expense?
100
State the accounting equation used for the balance sheet
What is assets equals liabilities plus equity?
100
Where entries are posted in chronological order
What is the General Journal?
100
Name the accounts for Services (revenues) on account
What are Accounts Receivable and Fees Income?
200
Name the accounts - adjusting entry for expired rent
What are Rent expense/Prepaid rent?
200
Describe what "book value" is
What is Equipment minus Accumulated Depreciation?
200
State how net income is calculated
What is revenue minus expenses?
200
Where entries are posted by account number
What is the General Ledger?
200
Name the accounts for services (revenues) paid in cash
What are Cash and Fees Income?
300
Name the accounts - adjusting entry for depreciation
What are Depreciation expense/Accumulated depreciation?
300
Calculate the monthly depreciation using straight line - cost $12,000, salvage $0, estimated useful life 5
What is $200? (12,000/60)
300
Name the financial statement with Fees Income account
What is the Income Statement?
300
State the journal entry equipment purchased for cash for $1,200
What is Equipment $1,200; Cash $1,200? (debit always first)
300
Payment of Accounts Receivable - debit or credit
What is credit?
400
Debit and debit totaled in the worksheet, add or subtract?
What is Add?
400
Calculate the monthly depreciation using straight line - cost $24,000, salvage $5,000, estimated useful life 7
What is $226? (19,000/85)
400
Name the account subtracted from net income
What is Owner, drawing?
400
Name the accounts when paid creditor on account
What is Accounts Payable and Cash?
400
The account for payment to owner
What is the drawing account?
500
The calculation for straight-line depreciation
What is Cost - salvage/estimated useful life?
500
Calculate the monthly depreciation using straight line - cost $45,000, salvage $10,000, estimated useful life 10
What is $292? (35,000/120)
500
The calculation for straight-line depreciation
What is cost - salvage/estimated useful life?
500
A journal entry that contains more than one debit or credit
What is a compound entry?
500
The two accounts used to record salary payments
What are Salaries Expense and Cash?
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