Chapter 5-6
Of the 2 financial statements, only one does not start with for month ended?
What is the Balance Sheet
How many closing entries are there?
What is 4?
A card you fill out for the bank when establishing an account to help prevent forgery.
What is a signature card?
If you lose money in a financial period it is called a net ______?
What is loss?
The __________ section of the worksheet contains just the permanent accounts
Balance Sheet
The net income or loss on the income statement should match what other form?
What is the Worksheet
True or False. In the 3rd closing entry, you close capital?
What is false.
On the bank reconciliation You also include ______checks and ____deposits.
What is outstanding.
This is opening day for the Royals, who are they playing?
Who are the Rangers?
The 4 sections of the worksheet
Trial balance, adjustments, Income Statement, and Balance Sheet
Name the 2 financial statements prepared after the Worksheet.
What is the Income Statement and the Balance Sheet.)
Accounts that are closed are called _____ accounts.
What is temporary.
The person who signs the petty cash check
What is the custodian?
Mark Twain said 2two certainties in life are ______ and _____.
What are death and taxes?
The first account on the Income Statement
Revenue: Sales
Name three of the special journals
Cash Payments, Cash Receipts, Sales, General, and Purchases
What is the last acct on the post-closing trial balance?
What is the Owners Capital Account?
The accounts are the opposite of the original account.
What are contra accounts?
All 5 acct classifications (think of COA)
What are Assets, Liabilities, Owner's Equity, Revenue, Expenses?
Net inc is entered in what column of the income statement
Debit Column
Your ending capital appears on what financial statements
Balance Sheet
What accounts are on the income statement?
Sales, and All expenses
An endorsement that limits how a check can be handled. For deposit only
What is a restrictive endorsement?
What was Mrs. Frueh's dream career after high school?
What is being a Loan Officer?