Chapter 5
This endorsement states "for deposit only"
What is restrictive?
The debits and credits should always do this
BALANCE
This is what the acronym CPA stands for
Certified Public Accountant
This is always on the left hand side
Debit
This is the amount of students in your class
25
The entry to establish a $200.00 petty cash fund is
debit Petty Cash, $200.00; credit Cash, $200.00.
These are the two accounts affected by the adjustment for insurance.
Prepaid Insurance Expense and Insurance.
This is the percentage range that CPAs make over regular accountants
10%-20%
Assets = ______+_______
Liabilities + Equity
This is what a group of crows is called.
A murder
Bank statement balance $4,461.00
Bank service charge 16.00
Outstanding deposit, Oct. 31 448.00
Outstanding checks:
No. 110 37.00
No. 111 75.00
No. 114 587.00
Checkbook balance on Check Stub No. 115 4,226.00
Balance on Check Stub No. 115 $4,226.00
Deduct
Service Charge $16.00
Total $4,210.00
Balance on Bank Statement $4,461.00
10/31 $448.00
Subtotal $4,909.00
Deduct Checks
110 37.00
111 75.00
114 587.00
Total outstanding 699.00
Adjusted Bank Balance $4,210.00
If your income statements debit is higher than your income statements credit you have a
Net Loss
These are 3 skills you can learn in an accounting class to be able to apply in your future career.
attention to detail
accuracy
communication
problem-solving
communication
This is the principles of right and wrong that guide an individual in making decisions.
Ethics
This is the location of Miss White's next student teaching placements.
Double the points if you get the correct city
Siena, Italy
What would it look like when you journal
Paid cash to replenish the petty cash fund, $94.50: Supplies, $24.00; Miscellaneous Expense, $52.50; Postage Expense, $16.00; Cash Short and Over (cash shortage), $2.00.
Supplies 24
Misc Expense 52.50
Postage Expense 16.00
Cash Short and Over 2.00
Cash 94.50
Based on the information above this is how you would input it into a work sheet heading
On January 31 of the current year, Naples Electric Repair is ready to prepare the work sheet. The business uses a monthly fiscal period. The first step in preparing a work sheet is the heading.
Naples Electric Repair
Work Sheet
For Month Ended January 31, 2026
These are the three core sections of the CPA exam
Auditing, Financial Reporting, Regulation
This is how you would journal
Sold services on account to Zachary’s Limos, $225.00. S1.
AR-Zachary's Limos S1 225.00
Cash 225.00
This person holds the NBA record for the most total career regular-season points. Having surpassed this amount as of this month
LeBron James with over 43,000 points
This is what "M" stands for in a general journal reference.
This is what "C" stands for in a general journal reference.
"M" is memorandum
"C" is Check
Calculate the net income for your income statement when your current income statement debit balance is 3,560 and your income statement credit balance is 4,923
4923-3560=1363
3560+1363=4923
CPAs require this many hours over a typical 120-hour bachelors degree.
30 hours (a total of 150 hours)
How does single-entry bookkeeping differ from double-entry bookkeeping?
Double-entry bookkeeping provides a more accurate financial picture.
This is the largest desert in the world.
The Antarctic Desert.