Accounting Jeopardy Glencoe Accounting Chapters 1

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Accounting JeopardyGlencoe Accounting Chapters 1
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Accounting Jeopardy
Basic Terms Accounting Equation Transactions Principles
100 100 100 100
200 200 200 200
300 300 300 300
400 400 400 400
500 500 500 500
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Credits

• Glencoe Accounting. Glencoe/McGraw-Hill. 2000.
• Thats all folks.

Exit
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Terms 100

• Business owned by one person.

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Terms 100

• What is a sole proprietorship?

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Terms 200

• The name given to an account.

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Terms 200

• What is an account title?

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Terms 300

• Financial statement that reports assets,
  liabilities, and owners equity on a specific
  date.

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Terms 300

• What is a balance sheet?

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Terms 400

• A record summarizing all the information
  pertaining to a single item in the accounting
  equation.

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Terms 400

• What is an account?

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Terms 500

• Money invested by the owner.

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Terms 500

• What is capital?
• What is an investment?

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Accounting Equation 100

• Accounting equation.

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Accounting Equation 100

• What is Assets Liabilities Owners Equity?

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Accounting Equation 200

• Something owned by a company.

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Accounting Equation 200

• What is an asset?

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Accounting Equation 300

• Something owed.

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Accounting Equation 300

• What is a liability?

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Accounting Equation 400

• A business that performs an activity for a fee.

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Accounting Equation 400

• What is a service business?

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Accounting Equation 500

• Claim to the assets of a company.

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Accounting Equation 500

• What is equity?

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Transactions 100

• Increase in cash and an increase in owners equity

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Transactions 100

• What accounts are effected and how when cash is
  received from owner as an investment?

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Transactions 200

• Decrease in cash and a decrease in Swans company.

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Transactions 200

• What accounts are effected and how when cash is
  paid on account?

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Transactions 300

• Supplies increase and Swans Company increases .

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Transactions 300

• What accounts are effected and how when supplies
  are bought on account?

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Transactions 400

• A business activity that changes assets,
  liabilities, or owners equity.

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Transactions 400

• What is a transaction?

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Transactions 500

• Results in an increase and decrease on the same
  side of an accounting equation.

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Transactions 500

• What is paying cash for supplies or paying cash
  for prepaid insurance?

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Principles 100

• A business exist separate for the owners
  personal finances.

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Principles 100

• What is accounting principle of business entity?

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Principles 200

• Applied when business transactions are stated in
  numbers that have common values.

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Principles 200

• What is Unit of Measurement?

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Principles 300

• Assumption that a business will survive and
  operate indefinitely.

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Principles 300

• What is the accounting assumption of going
  concern?

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Principles 400

• Two accounts.

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Principles 400

• Every transaction involves at least how many
  accounts?

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Principles 500

• The language of business

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Principles 500

• What is accounting?