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Assets
Posting
Terms
General Ledger
Miscellaneous
100
Has a normal debit balance.
What is assets?
100
This goes on the first line of the post closing trial balance.
What is the business name?
100
Ledger
What is a group of accounts?
100
Information for each transaction recorded in a journal.
What is an entry?
100
Determining the amount of cash agrees with the accounting records.
What is proving cash?
200
Determining the amount of cash agrees with the balance of the cash account in the accounting records.
What is proving cash?
200
Proof of the equality of debits and credits in the general ledger.
What is the trial balance?
200
A ledger that contains all accounts needed to prepare financial statements.
What is a general ledger?
200
A business paper from which information is obtained for a journal entry.
What is a source document?
200
The procedure for transferring information from a journal entry to a ledger account.
What is posting?
300
This account is number 110.
What is the cash account?
300
Changes recorded on a worksheet to update general ledger information needed to prepare financial statements.
What is adjustments?
300
The number assigned to an account.
What is account number?
300
Receipts, memorandums, and calculator tape.
What are source documents?
300
Baby don't hurt me.
What is love?
400
Assets=Liabilties+Owner's Equity
What is the accounting equation?
400
The difference between total revenue and total expenses when total revenue is greater.
What is net income?
400
A bank card that, when making purchases, automatically deducts the amount of a purchase from the checking account of the cardholder.
What is a debit card?
400
Journal entries recorded to update general ledger accounts at the end of a fiscal period.
What is adjusting entries?
400
Net income divided by total sales equals net income percentage.
What is the formula for net income percentage?
500
Cash, Petty Cash, Supplies, Prepaid Insurance, and Accounts payable
What are all the asset account names?
500
The length of time for which a business summarizes and reports financial information.
What is fiscal period?
500
A statement that guides the ethical behavior of a company and its employees.
What is a code of conduct?
500
Journal entries used to prepare temporary accounts for a new fiscal period.
What is closing entries?
500
Preparing financial statements at the end of each fiscal period is an application of this accounting concept.
What is accounting period cycle?