Dr and Cr
PP&E is purchased for $100 cash
Dr PP&E 100
Cr Cash 100
A customer pays $300 upfront for a service you haven't performed yet. Walk me through the statements.
No impact on the Income Statement yet since revenue isn't earned. On the Cash Flow Statement, cash increases by $300 (operating inflow). On the Balance Sheet, cash increases by $300 and unearned revenue (a liability) increases by $300.
A company pays $2,000 cash to a supplier for inventory. Classify the cash flow.
Operating activity. Payments to suppliers for inventory are a core part of daily business operations and always classified as operating.
This festival, lasting eight days, commemorates the rededication of the Temple in Jerusalem and the miracle of oil that burned for eight days instead of one. What is the Hebrew name for the special candelabra used during this holiday?
The festival is Hanukkah and the candelabra is called a Chanukiah or Hanukkiah, distinct from the seven-branched Menorah used in the Temple.
This element, with the symbol Au and atomic number 79, has been used as currency and jewelry for thousands of years.
What is Gold?
A company receives a $500 utility bill but won't pay it until next month.
Dr. Utilities Expense $500 / Cr. Accounts Payable $500
A company buys $2,000 of inventory with cash. Walk me through the statements.
No impact on the Income Statement. On the Cash Flow Statement, cash decreases by $2,000 (operating outflow). On the Balance Sheet, cash decreases by $2,000 and inventory increases by $2,000.
A company pays out a $300 cash dividend.
Cash Flow from Financing.
The Torah is divided into five books. Name all five.
Genesis, Exodus, Leviticus, Numbers, and Deuteronomy.
This Shakespeare play features a Danish prince who famously contemplates existence in a soliloquy beginning with "To be or not to be."
What is Hamlet?
A company earns $1,000 in revenue and receives cash immediately.
Dr. Cash $1,000 / Cr. Revenue $1,000
A company takes out a $10,000 bank loan. Walk me through the statements.
No impact on the Income Statement. On the Cash Flow Statement, cash increases by $10,000 (financing inflow). On the Balance Sheet, cash increases by $10,000 and notes payable (a liability) increases by $10,000.
A company collects $10,000 from a customer on an accounts receivable balance. Classify the cash flow.
Operating activity. Collections from customers are core to operations.
The Passover Seder follows a specific order outlined in this text, which also tells the story of the Exodus from Egypt.
What is the Haggadah?
This branch of mathematics, developed independently by Isaac Newton and Gottfried Wilhelm Leibniz in the 17th century, deals with rates of change and the accumulation of quantities, and is divided into two main branches.
What is calculus?
A business purchases $3,000 worth of equipment by paying $1,000 cash and putting the rest on account.
Dr. Equipment $3,000 / Cr. Cash $1,000 / Cr. Accounts Payable $2,000
A company sells $1,500 of inventory that originally cost $900. Walk me through the statements.
On the Income Statement, revenue increases by $1,500 and COGS increases by $900, so gross profit increases by $600. On the Cash Flow Statement, there is no immediate cash impact if sold on credit (accounts receivable increases). On the Balance Sheet, accounts receivable increases by $1,500, inventory decreases by $900, and retained earnings increases by $600 through net income.
A company pays $800 in interest on its outstanding bank loan. Classify the cash flow.
Even though the loan itself is financing, the interest payments are classified as operating under GAAP.
The Passover Seder plate contains six symbolic items. Name at least three of them.
Maror
Charoset
Karpas
Zeroa
Chazeret
This subatomic particle, whose existence was theorized for decades before being confirmed at CERN's Large Hadron Collider in 2012, is responsible for giving other particles their mass and is sometimes called the "God particle."
What is the Higgs boson?
$100 PP&E is sold for $120
Dr Cash 120
Cr PP&E 100
Cr Gain on Sale 20
A company that had previously recorded $800 of unearned revenue now completes the service for the customer. Walk me through the statements.
On the Income Statement, revenue increases by $800, increasing net income by $800. No impact on the Cash Flow Statement since cash was already received. On the Balance Sheet, unearned revenue (a liability) decreases by $800 and retained earnings increases by $800 through net income.
A company receives a $300 cash dividend from one of its subsidiaries that it owns 35% of.
CFO
This movement, founded in 18th century Eastern Europe by Rabbi Israel Baal Shem Tov, emphasized joy, prayer, and personal connection to God over pure Talmudic scholarship, and spread rapidly among common Jewish people. What is it called?
What is Hasidism (Chassidus)?
This mathematical conjecture, proposed in 1742 and still unproven, states that every even integer greater than two can be expressed as the sum of two prime numbers.
What is Goldbach's Conjecture?