Date post: | 17-Dec-2015 |
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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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