Accounting Terms
Entries and Transactions
Debits and Credits
Mix it up
Fact or Fiction
100
Owners invesment in the company
What is Equity
100
Posting
What is the process of transferring entries from the journal to the general ledger called?
100
Normal balance for: Assets, Expenses, Income Distributed
What is Debit
100
Management, stockholders, investors, employees, and auditors
Who would be interested in Financial Records of the business?
100
Linda, Kim, Allison, Ginny, Stephanie
Who have their CPP's
200
Anything that provides an economic benefit or value to the company over a period of time
What is an Asset
200
Cash, Delivery Equipment, Office Furniture, and Petty Cash
What is Assets
200
Normal Balance for: Liability, Equity, Revenue, Contributed Capital
What is Credit
200
Internal Controls
What checks and balances in a payroll system to ensure the accuracy of financial records and the security of its assets?
200
NPW
What is National Payroll Week
300
Costs of goods and services consumed during the accounting period
What is Expenses
300
lists each account by name and number, with a number being used to identify each account.
What is Chart of Accounts
300
Debit Increases Balance
What is Asset or Expense Account
300
Report showing Revenues and Expenses
What is an Income Statement?
300
Molly
Who is Dan's Wife?
400
Company debts that must be paid in the future
What is Liabilities
400
General Ledger
What is the book of final entry
400
Rightside of T-Account
What is Credit
400
Sampling
What is the testing process for audits.
400
22
How many people work at Mosaic Employer Solutions?
500
Amounts received for goods and services
What is Revenue
500
Compound Entry
What is A journal entry that has more than one debit or credit?
500
Double Entry
What keeps equation to remain in balance?
500
Report listing Assets, liabilityes and shareholders equity
What is a Balance Sheet
500
Mosaic Employer Solutions
Where is the BEST PLACE TO WORK EVER?
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