jeopardy template by christa lapointe chapter 4 jeopardy category1category2category3category4 100...
TRANSCRIPT
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JeopardyTemplateJeopardyTemplate
By Christa LapointeChapter 4
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JeopardyJeopardy
Category1 Category2 Category3 Category4
100 100 100 100
200 200 200 200
300 300 300 300
400 400 400 400
500 500 500 500
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CreditsCredits
That’s all folks.
Exit
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Category 1 $100Category 1 $100
First step in the accounting cycle
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Category 1 $100Category 1 $100
ORIGINATING DATA
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Category 1 $200Category 1 $200
Second step in the accounting cycle
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Category 1 $200Category 1 $200
JOURNALIZING
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Category 1 $300Category 1 $300
Third step in the accounting cycle
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Category 1 $300Category 1 $300
POSTING
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Category 1 $400Category 1 $400
What is the fourth step in the accounting cycle
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Category 1 $400Category 1 $400
TRIAL BALANCE
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Category 1 $500Category 1 $500
Transferring debit and credits from the journal to the ledger.
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Category 1 $500Category 1 $500
POSTING
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Category 2 $100Category 2 $100
Checking to see if the debits and credits equal at the bottom of a journal page.
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Category 2 $100Category 2 $100
JOURNAL PROOF
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Category 2 $200Category 2 $200
An entry that involves more than two entries is known as a ________________ entry.
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Category 2 $200Category 2 $200
COMPOUND
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Category 2 $300Category 2 $300
101-199 201-299
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Category 2 $300Category 2 $300
ASSETS LIABILITIES
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Category 2 $400Category 2 $400
Book of Original Entry
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Category 2 $400Category 2 $400
JOURNAL
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Category 2 $500Category 2 $500
Book of Secondary Entry/Final Entry
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Category 2 $500Category 2 $500
LEDGER
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Category 3 $100Category 3 $100
What is the last step in the posting process.
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Category 3 $100Category 3 $100
POST REFERENCE
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Category 3 $200Category 3 $200
Rules for using dates in the date column
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Category 3 $200Category 3 $200
2009 Nov. 8 22 Dec. 1 2
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Category 3 $300Category 3 $300
A summary of the balances of the ledger accounts is known as a ___________________.
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Category 3 $300Category 3 $300
TRIAL BALANCE
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Category 3 $400Category 3 $400
Documents that give evidence that a transaction took place.
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Category 3 $400Category 3 $400
SOURCE DOCUMENTS
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Category 3 $500Category 3 $500
The GAAP used by accountants to prove that a business transaction did occur.
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Category 3 $500Category 3 $500
OBJECTIVITY PRINCIPLE
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Category 4 $100Category 4 $100
Revenue and Capital have a _________ balance.
Expenses and Drawings have a _________ balance.
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Category 4 $100Category 4 $100
CREDIT DEBIT
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Category 4 $200Category 4 $200
A list of all accounts of the business with their account numbers is called the _____________.
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Category 4 $200Category 4 $200
CHART OF ACCOUNTS 101-199 assets 201-299 liabilities 301-399 owner’s equity 401-499 revenue 501-599 expenses
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Category 4 $300Category 4 $300
Examples of source documents
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Category 4 $300Category 4 $300 SALES INVOICE – providing a sale / revenue PURCHASE INVOICE – received when buying
something REMITENCE SLIP – receipt when a cheque comes in DEPOSIT SLIP – what you get from the bank when
depositing money CHEQUE STUB – show where and how much every
cheque is for OPENING BALANCE SHEET – beginning of a business
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Category 4 $400Category 4 $400
Advantages of journals
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Category 4 $400Category 4 $400
CHRONOLOGICAL ORDER EQUIALITY CHECKS
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Category 4 $500Category 4 $500
Expense Principle Revenue Principle Entity Concept Matching Principle
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Category 4 $500Category 4 $500 RECOGNIZE EXPENSES AND REVENUE
WHEN IT TAKES PLACE, NOT WHEN MONEY CHANGES HANDS
ENTITY – DIFFERENCE BETWEEN PERSONAL AND BUSINESS ACCOUNTS
MATCHING – COMPARING REVENUE AND EXPENSES FOR THE SAME ACCOUNTING PERIOD
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Double JeopardyDouble Jeopardy
General Journal Personal investment of 20 000 from Lapointe
into the business. (deposit slip) Bought a truck for 10 000 on account from MJ
Ford (purchase invoice 212)Post to the General Ledger Accounts needed: cash (101), capital (301),
truck (109) and acc.pay./MJ Ford (202)