Show:
Cats
Dogs
Rabbits
Horses
Bank Robbery
100
This normal business activity changes assets, liabilities, and an owner’s equity.
What is a transaction?
100
For each transaction these are how many changes to an accounting equation
What is two?
100
Always recorded in the left column.
What is debit?
100
A transaction to pay an amount owed to a liability (A+B=C Company), affects these two things.
What is Cash and A+B =C Company ( Liability)?
100
Any company that we owe money to.
What is liability?
200
An increase in capital resulting from the operation of a business in known as this.
What is revenue?
200
A transaction to pay cash for November <3 rent affects these two accounts.
What is Cash and Rent Expense?
200
The net changes made on the accounting equation’s left side must do what to the net changes made on the equation’s right side.
What is equal?
200
A decrease in capital resulting from the operation of a business is known as this.
What is Expense?
200
A balance sheet may be prepared on this date to report facts about a business’ accounting equation.
What is any date?
300
A transaction to pay for services results in a decrease in this.
What is Cash
300
This is known as the accounting equation.
What is Asset=Liabilities + Capital?
300
A transaction for the sale of goods or services results in an increase in this.
What is capital
300
If you pay $15 cash for $15 worth of supplies, your net change will be this.
What is zero?
300
Always recorded in the right column.
What is credit?
400
Which account is always affected in any transaction. -
What is cash?
400
What must be paid in advance.
What is insurance?
400
A transaction to pay cash for insurance affects these two accounts.
What is Cash and Pre-paid Insurance?
400
If you receive cash from the sale of services or products which two parts of the accounting equation are affected.
What is cash and capital?
400
If you rob a lot of money from a bank with your friend and split the money 50/50, how much do you get?
What is half of it?
500
An increase in capital because of an owners’ investment is not a result of what.
What is a business normal operation?
500
If a balance sheet is prepared on November 12, a balance cannot be prepared again till when.
What is anyday you want?
500
Assets taken out of a business for the owner’s personal use.
What is withdrawals?
500
A decrease in capital because of an owner’s withdrawals is not a result of what.
What is not normal operation?
500
Business expenses are for items and services used to produce what.
What is revenue?