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Accounting Accounting Jeopardy Jeopardy Glencoe Accounting Glencoe Accounting Chapters 1 Chapters 1
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Accounting JeopardyAccounting JeopardyGlencoe AccountingGlencoe Accounting
Chapters 1Chapters 1
Accounting Jeopardy
Basic TermsAccounting Equation
Transactions Principles
100 100 100 100200 200 200 200300 300 300 300400 400 400 400500 500 500 500
Credits
Glencoe Accounting. Glencoe/McGraw-Hill. 2000.
That’s all folks.Exit
Terms $100
Business owned by one person.
Terms $100
What is a sole proprietorship?
Terms $200
The name given to an account.
Terms $200
What is an account title?
Terms $300
Financial statement that reports assets, liabilities, and owner’s equity on a specific date.
Terms $300
What is a balance sheet?
Terms $400
A record summarizing all the information pertaining to a single item in the accounting equation.
Terms $400
What is an account?
Terms $500
Money invested by the owner.
Terms $500
What is capital?What is an investment?
Accounting Equation $100
Accounting equation.
Accounting Equation $100
What is: Assets = Liabilities + Owners Equity?
Accounting Equation $200
Something owned by a company.
Accounting Equation $200
What is an asset?
Accounting Equation $300
Something owed.
Accounting Equation $300
What is a liability?
Accounting Equation $400
A business that performs an activity for a fee.
Accounting Equation $400
What is a service business?
Accounting Equation $500
Claim to the assets of a company.
Accounting Equation $500
What is equity?
Transactions $100
Increase in cash and an increase in owner’s equity
Transactions $100
What accounts are effected and how when cash is received from owner as an investment?
Transactions $200
Decrease in cash and a decrease in Swan’s company.
Transactions $200
What accounts are effected and how when cash is paid on account?
Transactions $300
Supplies increase and Swans Company increases .
Transactions $300
What accounts are effected and how when supplies are bought on account?
Transactions $400
A business activity that changes assets, liabilities, or owner’s equity.
Transactions $400
What is a transaction?
Transactions $500
Results in an increase and decrease on the same side of an accounting equation.
Transactions $500
What is paying cash for supplies or paying cash for prepaid insurance?
Principles $100
A business exist separate for the owner’s personal finances.
Principles $100
What is accounting principle of business entity?
Principles $200
Applied when business transactions are stated in numbers that have common values.
Principles $200
What is Unit of Measurement?
Principles $300
Assumption that a business will survive and operate indefinitely.
Principles $300
What is the accounting assumption of going concern?
Principles $400
Two accounts.
Principles $400
Every transaction involves at least how many accounts?
Principles $500
The language of business
Principles $500
What is accounting?
