ACCT 2840 - SI Jeopardy

Decision Makers

100

Who is an external decision maker?

Stockholders (Investor), Creditor, Government(IRS/SEC), or Board of Directores?

200

Who is an internal decision maker?

Executives, Managers, Employees

300

A bank deciding whether to loan a company money is what type of decision maker?

External

Financial Statements

100

Which statement reports assets, liabilities, and equity?

Balance Sheet

200

Which statement reports revenues and expenses?

Income Statement

300

Name all four financial statements.

Balance Sheet, Income Statement, Statement of Retained Earnings, Statement of Cash Flows

Accounting Equations

100

Assets = Liabilities + _______?

Stockholders' Equity

200

Assets = $100,000 and Liabilities = $40,000. What is equity?

$60,000

300

Assets = $150,000 and Equity = $90,000. What are Liabilities?

$60,000

Retained Earnings

100

Beginning RE + NI - _______ = Ending RE?

Dividends

200

BRE = $10,000; NI = $20,000; Dividends = $5,000. ERE = ?

$25,000

300

BRE = $0; NI = $500,000; Dividends = $50,000 ERE = ?

$450,000

Case Files

100

Assets = $80,000; Liabilities = $30,000 Equity?

$50,000

200

NI = $40,000; Dividends = $10,000. How much does RE increase?

$30,000

300

BRE = $20,000; Dividends = $5,000; ERE = $50,000. NI = ?

$35,000