The Six-Column Worksheet
This is a working paper used to collect information from the ledger accounts in one place
What is a Worksheet?
The numerical step in the Accounting Cycle where the work sheet is prepared
6th Step?
This is the first place business transactions are recorded in chronological order
general journal
The step in the accounting cycle associated with preparing a Trial Balance
5th step
What color are Dorothy's slippers in the original Wizard of Oz book?
Silver
The three pieces of information required for the Work Sheet Heading
name of the accounting form, the name of the business, and the period covered by the worksheet?
The term for a single line drawn to signal that a total is ready to be computed
Ruling
an all-purpose record in which all of the transactions of a business may be recorded
general journal
A formal way to prove the ledger and confirm that all debits equal all credits
preparing a Trial Balance
What is the name of the literary device that compares two unlike things using the words "like" or "as"?
Simile
This section of the work sheet lists all general ledger accounts, even those that have a zero balance
Account Name
This is the amount of revenue that remains after expenses for the period have been subtracted
Net Income
This permanent record is organized by number and is used to see balances and totals for each account
general ledger
If you have an error where digits were flip flopped (e.g., 52 written as 25), you may have this type of error
Transposition error
What sport uses a shuttlecock?
Badmitton
This worksheet section contains the asset, liability, and owners equity accounts, and does not include revenue and expenses
Balance Sheet
Net income is entered as a ________ at the bottom of the work sheet in the Income Statement section if it is a positive value
debit
The journal records transactions chronologically, while the ledger organizes transactions by this
by account
This calculation helps identify a possible transposition error: dividing the difference between totals by this number
9
What is the process of a liquid becoming a gas called?
Vaporization
The two types of accounts that are transferred to the Income Statement Section
revenue accounts and expense accounts
The final action taken across all four columns to indicate that the debits and credits are equal
drawing a double rule under the four column total
If an error is found after posting a transaction to the ledger, this step is required to fix the mistake, abiding by the rule that you must never erase an error.
make a correcting entry
The rule to follow if you find an error, rather than using an eraser
never erase an error (or making a correcting entry)
Who wrote the epic poems The Iliad and The Odyssey?
Homer