In the Lecture
Profit margin tells you what?
It tells what percentage of each dollar is profit.
This is sometimes called the bottom line.
Profit.
This a liability that is owed in less than a year.
Short-term liability.
One of the two countries where Coca-Cola is not sold.
North Korea
Cuba
She is the head of Harpo Productions Inc.
Oprah Winfrey
How many grandchildren does your professor have?
14
What is the step after preparing the adjusted trial balance.
Prepare financial statements.
This financial statement depicts assets, liabilities, and owner's equity.
Balance Sheet
The name of the revenue account for a law firm.
Service revenue.
He is the CEO of Berkshire Hathaway.
Warren Buffet
This man has a Nike shoe deal and is a majority stakeholder in the Charlotte Hornets. His net worth is $2 Billion.
Michael Jordan.
The capital of Florida is...?
Tallahassee
Which account is debited and credited for accrued revenue?
Debit - Asset
Credit Revenue
When two companies get together to work on a project, it is called a...
Joint Venture
The easiest method of depreciation.
Straight Line depreciation.
Steve Wozniak and who started Apple Inc.
Steve Jobs.
This rapper has a net worth of 1 billion and sings the song Big Pimpin'.
Jay Z
The musician and actor Calvin Broadus is more generally known as?
Snoop Dogg
What is the allocation of an asset's cost over its useful life called?
Depreciation
This account is credited when a liability is due.
Payable
A single-ownership business that is not incorporated.
Sole proprietorship.
B2B stands for?
Business to Business.
She is the first the first self-made female millionaire in America.
Madam CJ Walker
What is the name of the grocery store concept with no checkout lines rolled out by Amazon in 2018?
Amazon Go
Name two of the periods in accounting.
Monthly, quarterly, semi-annually, annually.
This includes the date and account to be credited and debited.
Journal entry
This term means occurring twice per month.
Semi-monthly.
Jimmy Wales was a co-founder of what famous internet information site.
Wikipedia.
What state had Black Wall Street
Oklahoma
What do the following numbers have in common: 2, 17, 29, and 31?
They are prime numbers.