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DEFINITIONS
DEBITS & CREDITS
UNIVERSITY ACCOUNTING
CLAS
PSU TRIVIA
100
This name of account records payments made in advance.
What is Prepaid Expense (Prepaid Assets)
100
The "ying" and "yang" of accounting (language).
What is Debits and Credits?
100
This acronym represents the accounting string in Banner.
What is FOAPAL?
100
The science devoted to the study of the Earth.
What is Geology?
100
The Mascot for PSU.
What is Viking?
200
This accounting component is simple Assets minus Liabilities.
What is Fund Balance?
200
Accountants can use this exercise in preparing Journal Vouchers.
What is a "T" account?
200
The shortcut to FOAPAL.
What is Index?
200
The study of humans, past and present.
What is Anthropology?
200
The name of the newest building on campus.
What is CLSB? Collaborative Life Science Building?
300
This basis of accounting would record expenses before they were paid.
What is Accrual Accounting?
300
The left hand side of a "T" account?
What is a Debit?
300
The part of FOAPAL that tells where the money comes from.
What is Fund?
300
The study of composition, structure, properties, and change of matter.
What is Chemistry?
300
PSU's campus encompasses this number of acres.
What is 50?
400
This ledger is often referred to as the Permanent Ledger.
What is the General Ledger?
400
We would always debit this account to increase it?
What is Assets or Expenses?
400
The part of FOAPAL indicating which Department owns the money.
What is Organization?
400
The study of the past, particularly how it relates to humans.
What is History?
400
PSU's Motto declares... "blank" will serve the city.
What is Knowledge?
500
This ledger records operations (expenses and revenues) during a specific year.
What is Operating Ledger?
500
We never make an entry to this accounting component. It is simply the balance between assets and liabilities.
What is Fund Balance?
500
The part of FOAPAL that tells us what the money is used for.
What is Account?
500
The study of numbers, equations, functions, and geometric shapes, and their relationships.
What is Math?
500
This year marks the founding year of PSU.
What is 1946?