welcome to... a game of x’s and o’s. rules groups of two are asked and can answer as a pair no...

Welcome to...

A Game of X’s and O’s

Rules

• Groups of two are asked and can answer as a pair

• NO NOTESNO NOTES• Go around the room in order• 3 in a row wins the game• If no team gets three in a row, whichever team

gets 5 marks wins the game• Best of 3 series• Each win is worth a bonus point

7 8 9

4 5 6

1 2 3

7 8 9

4 5 6

1 2 3Scoreboard

X

O

Click Here ifX Wins

Click Here ifO Wins

1

What is the normal balance side of any Accounts Payable account?

1

CREDITHome

2

What is the normal balance side of the cash account?

2

DEBITHome

3

The left side of a T account is called the ___?

3

DEBITHome

4

When buying supplies with cash, which side of the cash account is affected?

4

CREDITHome

5

The advertising expense account is increased with a ______.

5

DEBITHome

6

When purchasing supplies with cash, which side of the supplies account is affected?

6

DEBITHome

7

What is the normal balance side of any Accounts Receivable account?

7

DEBITHome

8

Increases in the sales account are posted on which side of the account?

8

CREDITHome

9

Classify the following account: Prepaid Insurance

9

ASSETHome

7 8 9

4 5 6

1 2 3Scoreboard

X

O

Click Here ifX Wins

Click Here ifO Wins

1

What is an accounting device used to analyze transactions?

1

T ACCOUNTHome

2

Classify the following account: Telephone expense

2

OWNER’S EQUITYHome

3

What is a list of accounts used by a company called?

3

CHART OF ACCOUNTSHome

4

T/F? Increases in expense accounts are recorded as debits because they decrease the owner’s

capital account.

4

TRUEHome

5

When a business pays cash on account, which side of the accounts payable account is

affected?

5

DEBITHome

6

Each transaction changes the balance of a least _____ account(s)

6

TWOHome

7

Classify the account: Accounts receivable – Joe’s Crab Shack

7

ASSETHome

8

Classify the account: Sales

8

OWNER’S EQUITYHome

9

The drawing account is _____ by debits and _____ by credits

9

INCREASED; DECREASEDHome

7 8 9

4 5 6

1 2 3Scoreboard

X

O

Click Here ifX Wins

Click Here ifO Wins

1

Bought supplies on account from Old Navy.

1

DEBIT SUPPLIES; CREDIT OLD NAVYHome

2

Paid cash for insurance.

2

DEBIT INSURANCE; CREDIT CASHHome

3

Paid cash to owner Frank Thomas.

3

DEBIT FRANK THOMAS, DRAWING; CREDIT CASHHome

4

Paid cash for supplies.

4

DEBIT SUPPLIES; CREDIT CASHHome

5

Wrote a check for miscellaneous expense.

5

DEBIT MISCELLANEOUS EXPENSE; CREDIT CASHHome

6

Received cash from sales.

6

DEBIT CASH, CREDIT SALESHome

7

Sold services on account to Universal Inc.

7

DEBIT ACCTS REC. UNIVERSAL INC.; CREDIT

SALESHome

8

Received cash from owner Frank Thomas as an investment.

8

DEBIT CASH; CREDIT FRANK THOMAS, CAPITALHome

9

Bought supplies on account from Rawlings Inc.

9

DEBIT SUPPLIES; CREDIT ACCTS PAY. – RAWLINGS

INC.

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