JEOPARDY! The Accounting Cycle Click Once to Begin Template by Bill Arcuri, WCSD

JEOPARDY! Depreciation Uncollectible Accounts Adjusting/ Closing Entries Income Statement Balance Sheet Journals 100 100 100 100 100 100 200 200 200 200 200 200 300 300 300 300 300 300 400 400 400 400 400 400 500 500 500 500 500 500 Template by Bill Arcuri, WCSD

Daily Double Graphic and Sound Effect! DO NOT DELETE THIS SLIDE! Deleting it may cause the game links to work improperly. This slide is hidden during the game, and WILL not appear. In slide view mode, copy the above (red) graphic (click once to select; right click the border and choose “copy”). Locate the answer slide which you want to be the daily double Right-click and choose “paste”. If necessary, reposition the graphic so that it does not cover the answer text. Template by Bill Arcuri, WCSD

Records a greater depreciation expense in the early years of an asset's useful life Answer Template by Bill Arcuri, WCSD

The accumulated depreciation account should show ____. Answer Template by Bill Arcuri, WCSD

Smallest unit of time used to calculate depreciation is ____. Answer Template by Bill Arcuri, WCSD

Depreciation expense for a plant asset is recorded ____. Answer Template by Bill Arcuri, WCSD

The amount by which a plant asset depreciates is classified as this type of an account. Answer Template by Bill Arcuri, WCSD

When the account Allowance for Uncollectible Accounts is used, a customer past-due account is written off as uncollectible by ____. Answer Template by Bill Arcuri, WCSD

Information used to journalize an uncollectible expense adjusting entry is obtained from a work sheet's ____. Answer Template by Bill Arcuri, WCSD

At the end of a fiscal period, the account credited to show the estimated amount of uncollectible accounts is ____. Answer Template by Bill Arcuri, WCSD

After the entries are made to reopen a customer account and record collection of the account, the customer account balance is ____. Answer Template by Bill Arcuri, WCSD

The entry to write off an account receivable is recorded which journal? Answer Template by Bill Arcuri, WCSD

After adjusting and closing entries have been posted to the general ledger, a ____ is prepared. Answer Template by Bill Arcuri, WCSD

What is the first closing entry? Answer Template by Bill Arcuri, WCSD

To close the dividends account, ____. Answer Template by Bill Arcuri, WCSD

To close the income summary account when there is net income, ____. Answer Template by Bill Arcuri, WCSD

To close the expense and cost accounts, ____. Answer Template by Bill Arcuri, WCSD

Total sales less sales discount and sales returns and allowances is called ____. Answer Template by Bill Arcuri, WCSD

How is the earnings per share calculated? Answer Template by Bill Arcuri, WCSD

How is the price-earnings ratio calculated? Daily Double!!! How is the price-earnings ratio calculated? Answer Template by Bill Arcuri, WCSD

The amount of net income after federal income tax belonging to a single share of stock is called ____. Answer Template by Bill Arcuri, WCSD

The relationship between the market value per share and earnings per share of a stock is called the ____. Answer Template by Bill Arcuri, WCSD

Liabilities owed for more than a year are called ____. Answer Template by Bill Arcuri, WCSD

To prepare the corporation's balance sheet, use the information from ____. Answer Template by Bill Arcuri, WCSD

A financial statement that summarizes the changes in a corporation's ownership for a fiscal period is ____. Answer Template by Bill Arcuri, WCSD

Reporting financial information the same way from one fiscal period to the next is an application of the accounting concept ____. Answer Template by Bill Arcuri, WCSD

The distribution of dividends only by formal action of a corporation's board of directors is an application of the accounting concept ____. Answer Template by Bill Arcuri, WCSD

To record the payment of federal unemployment tax, the account debited is what type of account. Answer Template by Bill Arcuri, WCSD

The entry to journalize the adjustment for office supplies at the end of a fiscal period is ____. Answer Template by Bill Arcuri, WCSD

The entry to journalize the adjustment for merchandise inventory at the end of a fiscal period when ending merchandise inventory is smaller than the beginning is ____. Answer Template by Bill Arcuri, WCSD

The total amount of the purchases journal is posted to the general ledger account(s) ____. Answer Template by Bill Arcuri, WCSD

To indicate that column totals are not to be posted, ____. Answer Template by Bill Arcuri, WCSD

“Conceptually” Speaking Answers The Basics “Conceptually” Speaking AAA All About Accounts Great Form Relocate & Rearrange Pot Luck Capital Business Entity Concept Chart of Accounts Work Sheet Posting Source Document Proprietorship Accounting Period Cycle Temporary Accounts Balance Sheet The last step in the posting procedure T-Account Liability Objective Evidence Petty Cash Trial Balance General Amount Columns Net Income Accounting Equation Consistent Reporting Drawing Post-Closing Trial Balance Sales, Cash DR and Cash CR Blank Endorsement Revenue Matching Expenses with Revenue Income Summary Income Statement 5 Net Income divided by Total Sales Template by Bill Arcuri, WCSD

Double-Declining Balance Method Template by Bill Arcuri, WCSD

total depreciation for plant assets still in use Template by Bill Arcuri, WCSD

One Month Template by Bill Arcuri, WCSD

at the end of each fiscal period during the asset's estimated useful life Template by Bill Arcuri, WCSD

Expense Template by Bill Arcuri, WCSD

debiting Allowance for Uncollectible Accounts and crediting Accounts Receivable and the customer account Template by Bill Arcuri, WCSD

Adjustments Column Template by Bill Arcuri, WCSD

Allowance for Uncollectible Accounts Template by Bill Arcuri, WCSD

zero Template by Bill Arcuri, WCSD

General journal Template by Bill Arcuri, WCSD

post-closing trial balance Template by Bill Arcuri, WCSD

Debit I.S. accounts w/ credit balances and Credit Income Summary Template by Bill Arcuri, WCSD

debit Retained Earnings and credit Dividends Template by Bill Arcuri, WCSD

debit Income Summary; credit Retained Earnings Template by Bill Arcuri, WCSD

debit Income Summary; credit the expense and cost accounts Template by Bill Arcuri, WCSD

net sales Template by Bill Arcuri, WCSD

Net income after federal income tax divided by the number of shares outstanding Template by Bill Arcuri, WCSD

Market price per share divided by the earnings per share Template by Bill Arcuri, WCSD

earnings per share Template by Bill Arcuri, WCSD

The relationship between the market value per share and earnings per share of a stock is called the ____. Template by Bill Arcuri, WCSD

long-term liabilities Template by Bill Arcuri, WCSD

The Balance Sheet columns of a work sheet Template by Bill Arcuri, WCSD

a statement of stockholders' equity Template by Bill Arcuri, WCSD

Consistent Reporting Template by Bill Arcuri, WCSD

Business Entity Concept Template by Bill Arcuri, WCSD

A liability Template by Bill Arcuri, WCSD

debit Supplies Expense-office; credit Supplies-Office Template by Bill Arcuri, WCSD

debit Income Summary; credit Merchandise Inventory Template by Bill Arcuri, WCSD

The total amount of the purchases journal is posted to the general ledger account(s) ____. Template by Bill Arcuri, WCSD

a check mark is placed in parentheses under the total Template by Bill Arcuri, WCSD