Classifications
Cash is classified as a(n)...
What is an asset account?
An item of value that is OWNED...
What is an asset?
What is the accounting equation...
What is Asset = Liabilities + Owner's equity?
Sales _________ equity. (Increase or decrease)
What is increase?
If you encounter this Spider-Man actor performing a 2007 Rihanna song on Lip Sync Battle, internet law states you must stop and watch it.
What is Tom Holland?
Accounts Payable is classified as a(n)...
What is liability account?
An amount OWED (debt) by an individual or business.
What is a liability?
Which accounts would be affected (and how) by the following transaction:
Paid cash for supplies, $100.00.
What is Cash decrease $100, and Supplies increase $100?
Withdrawals/Drawings _____________ equity. (Increase or Decrease)
What is decrease?
This fictional parallel dimension in Stranger Things is full of vines, fog, and the Demogorgon.
What is the Upside Down?
Capital is classified as a(n)...
What is equity account?
The equation for net worth is...
What is assets - liabilities = net worth?
Which accounts would be affected (and how) by the following transaction:
Received cash from owner as an investment, $500.00.
What is an increase to cash $500, and an increase to capital $500?
Which accounts would be affected (and how) by the following transaction:
Received cash from sales, $500.00.
What is cash increases $500, and Sales (equity) increases $500?
This actor, known for playing Wolverine, shockingly transitioned into singing and dancing for The Greatest Showman.
What is Hugh Jackman?
Revenue/Sales is classified as a(n)...
What is equity account?
What is the net worth for the following individual?
-Car $20,000
-Car Loan $15,000
-Cash $500
-Jewelry $300
What is $5,800?
Which accounts would be affected (and how) by the following transaction:
Paid cash on account, $50.00.
What is Cash decreasing $50, and Accounts Payable decrease $50?
Which accounts would be affected (and how) by the following transaction:
Received cash on account, $60.00.
What is cash increases $60, and Accounts Receivable (A/R) decreases?
This pop star made history and confused vegetarians everywhere by wearing a dress made entirely of raw meat to the 2010 MTVMVAs.
What is Lady GaGa?
Prepaid Insurance is classified as a(n)...
What is asset account?
What is the net worth for the following individual?
-Car $7,000
-Mortgage $100,000
-Cash $1,000
-Car Loan $5,000
What is negative $97,000?
Which accounts would be affected (and how) by the following transaction:
Bought supplies on account from Offices R Us, $700.00.
What is an increase to supplies $700, and increase to Accounts Payable (A/P) $700?
Which accounts would be affected (and how) by the following transaction:
Sold services on account, $500.00.
What is Accounts Receivable (A/R) increases $500, and Sales increases $500?
Who voiced the character of Shrek?
Who is Mike Myers?