CPA
This is the basic Accounting Formula.
What is A = L + OE?
An amount recorded on the right side of a T-Account is called this.
What is a credit?
This is the action of recording transactions in chronological order.
What is journalizing?
This is transferring information from a journal entry to a ledger account.
What is Posting?
This is the number of days Ryan & mike came to class late?
What is all of them.
This is King
What is Cash?
This is an exchange of assets, liabilities or owner’s equity.
What is a Transaction?
A business would refer to their ____________ to know what accounts are available to record transactions to.
What is Chart of Accounts?
This is where all transactions are first recorded to
What is a General Ledger?
This is the indented line of a j/e
What is the credit line?
This is Mr. Lopinto's favorite sport/
What is Hockey?
This tool is helpful in visualizing a transaction or j/e.
What is a T Account?
This is the Journal when Supplies are purchased for $300 with cash.
What is a debit of $300 to supplies and a credit of $300 to cash?
The side of the account that gets increased is called this.
What is the Normal Balance?
This is a form describing the goods or services sold, the quantity, the price, and the terms of sale.
What is a invoice/bill?
The column after the account name when writing a j/e.
What is Acct Number?
These are the names of the 3 accountants there are in the show "The Office".
Who are Kevin, Angela and Oscar?
This is one way to check the trial balance.
What is Debits equal Credits?
This term indicates the purchase was made using credit (or cash will be exchanged at a later date).
What is on account?
This is the Normal Side of a Revenue account.
What is Credit?
This is the source document when you pay cash for insurance (for example).
What is a check/bank statement?
Expense accounts would start with this numbering sequence.
What is 5?
24
What is the number of students in this class?
This is the required top section of any financial statement.
What is header?
This account would start with a 4
What is Sales?
If an amount is recorded on the side of a T account opposite the normal balance side, the account balance is this.
What is Decreased?
This is the journalization of the following transaction:
Sold services on account to XYZ Company.
What is a debit to Accounts Receivable - XYZ Company and a credit to Sales?
You start with a debit balance of $15,000 in your assets account. You then credit it $13,000 and debit it by $2,000. This is your current balance.
What is $4,000?
This is the textbook publisher of the textbook we use.
What is Cengage?
This financial statement is the only one that is an 'as of date'
What is Balance Sheet?