Trial Balance
Adjustments
Inc Statement
Bal Sheet
I love Acct!!
100
Things that are on the debit side of the trial balance.
What are assets, withdraws and expenses?
100
The starting number minus the amount used.
What is the calculation for adjustments?
100
The numbers that are transferred to the Income Statement columns.
What is anything below the Income Summary line? (or Revenue and Expenses)?
100
Accounts that are on the debit side of the Balance Sheet columns?
What are assets and drawing accounts?
100
This person asks for lollipops the most.
Who is Mike Feiertag?
200
Things that are on the credit side of the trial balance.
What are assets, liabilities, capital and revenue?
200
You started with 4000 in prepaid insurance and have 3000 left - Your adjustment is...
What is $1000?
200
What if your revenue is equal to your expenses?
What is breaking even?
200
What accounts are on the credit side of the Balance Sheet columns?
What are liabilites and capital?
200
These two guys are the first people in the room in the morning.
Who are Abdoul or Mike Evans?
300
As soon as your record the numbers in the trial balance you...
What is adding the numbers in the trial balance?
300
If you start with 1200 in supplies and used 200, your adjustment is...
What is 200?
300
The difference between Revenue and Expenses.
What is net income?
300
The numbers that are transferred to the Balance Sheet columns.
What is anything above the Income Summary line? (or Assets, Liabilities and Owner's Equity accts)?
300
This guy got best dressed for the Senior class.
Who is Jimmy Troung?
400
Immediately go back and check your math and/or numbers. Don't continue until they do.
What is the procedure if your trial balance doesn't balance?
400
If your prepaid insurance was 2000 and you now have 900, your adjustment is...
What is 1100?
400
A situation where you spend more than you made.
What is net loss?
400
If there is a net income, in which column will it appear in the Balance Sheet column?
What is the credit column?
400
This young lady's team made it to districts for field hockey.
Who is Erin Kelly?
500
To make sure debits = credits.
What is the reason we do a trial balance?
500
If supplies on hand are 300 and you started with 1000, your adjustment is...
What is 700?
500
In the Income Statement column, in which column do you put a net loss?
What is the credit column?
500
The report that is created from the Balance Sheet column.
What is the Balance Sheet?
500
Your favorite Accounting teacher!!!!!
Who is Mrs. Reitz?????
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