Journal Entries
JE-100
What is debit?
FS-100
Which financial statement shows the company’s profitability over a period of time?
AE-100
What is an adjusting entry?
CE-100
What is a closing entry?
M-100
What is the first step in the accounting cycle?
JE-200
When purchasing inventory on credit, what is the journal entry?
FS-200
What financial statement shows the company’s financial position at a specific point in time?
AE-200
What is the adjusting entry for prepaid insurance used during the period?
CE-200
What account is used to close revenue and expense accounts?
M-200
What document is prepared after journal entries and ledger posting, but before adjusting entries?
JE-300
What is the journal entry for receiving cash from a customer for a service performed?
FS-300
Which section of the balance sheet shows liabilities and equity?
AE-300
What adjusting entry is made for accrued salaries?
CE-300
What is the entry to close revenue accounts?
M-300
What is the purpose of the post-closing trial balance?
JE-400
What is the journal entry for paying employees’ salaries?
FS-400
Where is net income shown on the Statement of Owner’s Equity?
AE-400
How do you adjust for unearned revenue that has been earned during the period?
CE-400
How do you close the dividends account?
What is a contra asset account?
JE-500
How would you record the sale of an asset that was originally purchased for $10,000, has accumulated depreciation of $6,000, and is sold for $5,000?
FS-500
What’s the formula for the accounting equation?
AE-500
What adjusting entry would you make for depreciation on equipment?
CE-500
How do you close the income summary account when the company has a net loss?
M-500
What type of account is "Accounts Receivable"?