Accounting Jeopardy

Prepaids

100

What does a Prepaid GL start with?

19

200

What is the typical dollar limit for an invoice to qualify as a prepaid?

$300.00

300

What is the length of time to prepay a supply order that meets the threshold?

3 months

400

We receive an invoice for an event that will happen November 1st, how long should we prepay it?

Until the end of October.

500

Generally, what is the longest we can usually prepay something?

1 year, with the exception of maintenance contracts that last longer or other special items.

Fixed Assets

100

What approvers will always see a fixed asset?

Brandi, Amber, and Melanie

200

What is the typical dollar limit for an invoice to qualify as a Fixed Asset?

500

300

What should be done in Fixed Assets if an old printer has been replaced by a new one?

We will need to dispose of the old printer.

400

If we had to purchase a control panel for the HVAC, which GL would we pay it from? 170100 or 172100.

170100

500

Of the following, which type of FA does not depreciate?

Building / Vehicles / FF&E / Land

Land

General Knowledge

100

Name of the banks Security Officer

Bob Gibson

200

What is the First Bank & Trust Tagline?

We Listen

300

Who is the bank's BSA officer?

Sharon Biffle-Evans

400

Name the banking centers 1-11

Duncan Main, Plato, Healdton, Ardmore Main, Norman Main, Alameda, Sam Noble(closed), Waurika, Yukon(closed), Ardmore West, Edmond

500

What is the bank's Return on Assets (ROA) Goal?

≥ 2%

Invoices

100

What department reconciles the Accounts Payable checking account #127922?

Deposit Admin

200

10th street janitorial supplies should be paid from which branch?

77

300

What would be the IRS Name Control for OAK! Tree Services?

OAKT

400

Where can you look for old invoices that aren't in Banktel anymore?

Synergy in the Accounting Cabinet

500

What are the criteria for us to send someone a 1099 at the end of the year? (Dollar limit and type of expense)

>$600/year.

Rent, Attorney, and Non-employee compensation are our most frequent.

Month End

100

If an item is a debit on the GL history, where on the recon would it go?

We Debit

200

If a month end invoice doesn't get paid before month end, what do you do?

What is let Brandi or Amber know so they can accrue for the invoice.

300

Assets must always equal...

Liabilities + owners equity

400

Where can you check to see if the TIB interest that comes in after the 1st will need to be backdated?

Fed Funds Monthly Confirmation

500

What does it mean for a public pledge to need 110%?

We need to pledge to cover 110% X their deposit balance.