Accounting Jeopardy Glencoe Accounting Chapters 2-3 By Carl Lyman © December 2001.

Slides:

Advertisements

Similar presentations

Processing Accounting Information Chapter 2 Analyze business transactions.

Advertisements

Property and Financial Claims, The Accounting Equation and

Accounting for a Service Business - Unit 1.6

Chapter 7 – Closing Entries. Bellringer: Solve the following formulas: 1.10,000 – X = ,000 – X = 0 What is the opposite of $10,000? What is the.

An accounting device used to analyze transactions is a called a/an ____________ T ACCOUNT.

0 Glencoe Accounting Unit 2 Chapter 5 Copyright © by The McGraw-Hill Companies, Inc. All rights reserved. Unit 2 The Basic Accounting Cycle Chapter 3 Business.

Finance Foundations Unit 5 Flash Cards Mrs. Sorrell.

Week 2.  Lots of transactions occur which affect different accounts.  The business needs to keep track of the different accounts it is accounting for.

Accounting and the Business Environment Chapter 1.

Chapter 3 Business Transactions and the Accounting Equation

2 pt 3 pt 4 pt 5pt 1 pt 2 pt 3 pt 4 pt 5 pt 1 pt 2pt 3 pt 4pt 5 pt 1pt 2pt 3 pt 4 pt 5 pt 1 pt 2 pt 3 pt 4pt 5 pt 1pt Chapter 1&2 Into to Acct Chapter.

Analyzing Transactions into Debit and Credit Parts.

Home. Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.Glencoe Accounting State Says Standard: 3.0 The student will analyze and record.

Job Opportunities in Accounting

Chapter 1 Test College Accounting. Question: An organization in which basic resources (inputs), such as materials and labor, are assembled and processed.

0 Glencoe Accounting Unit 2 Chapter 3 Copyright © by The McGraw-Hill Companies, Inc. All rights reserved. Unit 2 The Basic Accounting Cycle Chapter 3 Business.

HFT 2401 Financial Accounting

McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Basic Financial Statements Chapter 2.

Principles of Financial Accounting Chapter 3 Accounting Equation Assets = Liabilities + SE Stockholder’s Equity is divided into: Paid in capital Retained.

Collect into groups of 2-3 students and create a team name related to Business.

0 Glencoe Accounting Unit 2 Chapter 3 Copyright © by The McGraw-Hill Companies, Inc. All rights reserved. Unit 2 The Basic Accounting Cycle Chapter 3 Business.

Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin.

Business Transactions and The Accounting Equation

© The McGraw-Hill Companies, Inc., 2002 McGraw-Hill/Irwin BASIC FINANCIAL STATEMENTS Chapter 2.

Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.Glencoe Accounting Property Property and Financial Claims Section 3.1 The purpose of.

The Accounting Equation

Property=Property Rights items ownedright to use item / legal right to item’s value.

CHAPTER 1 Starting a Sole Proprietorship: Changes That Affect the Accounting Equation.

BUSINESS TRANSACTIONS AND THE ACCOUNTING EQUATION Chapter 3.

Accounting Principles, Ninth Edition

Describe various organizational forms and business decision makers. 1-1.

LESSON 2-1 Analyzing How Transactions Affect Owner’s Equity Accounts

TRANSACTIONS THAT AFFECT REVENUE, EXPENSES AND WITHDRAWALS Chapter 5.

Accounting Jeopardy Glencoe Accounting Chapters 1.

1 - 1 ©2002 Prentice Hall, Inc. Business Publishing Accounting, 5/E Horngren/Harrison/Bamber Accounting and the Business Environment Chapter 1.

Relationship of Revenue, Expenses, and Withdrawals to Owner’s Equity CHAPTER 5.

Basics of Accounting. Accounting has 3 main activities 1. Identifying  select events that are evidence of economic activity 2. Recording  provide a.

Debit & Credit Left side & Right side Accounting equation. Accounts accumulate the results of transactions. Debit are always entered on the left side.

BASIC FINANCIAL STATEMENTS

Transactions That Affect Revenue, Expenses, and Withdrawals.

Chapter 1 Test College Accounting. Question: An organization in which basic resources (inputs), such as materials and labor, are assembled and processed.

INTRODUCTION TO ACCOUNTING PANOS PAPADOPOULOS. WHAT IS ACCOUNTING? Accounting is the recording of financial transactions plus storing, sorting, retrieving,

Accounting Jeopardy Chapter 3 By Carl Lyman © December 2001.

Accounting Jeopardy Glencoe Accounting Chapters 2-3 By Carl Lyman © December 2001.

Jeopardy MONEY By Antonella Maccarone December 2004.

CHAPTER 3: Starting a Proprietorship: Changes That Affect Owner’s Equity.

Financial Accounting. Accounting Measures Processes Communicates…… Financial information to decision makers.

TRANSACTIONS THAT AFFECT OWNER’S INVESTMENT, CASH AND CREDIT.

CHAPTER 2 Analyzing Transactions into Debit and Credit Parts.

Accounting 1 Review #1 State Test. Which is the most common form of business organization in this country? A. Sole Proprietorship B. Partnership C. Corporation.

ACCOUNTING I Business Transactions and the Accounting Equation Chapter 3 Vocabulary.

Financial Accounting Chapter 2. Investing and Financing Decisions and the Balance Sheet.

0 Glencoe Accounting Unit 2 Chapter 5 Copyright © by The McGraw-Hill Companies, Inc. All rights reserved. Unit 2 The Basic Accounting Cycle Chapter 3 Business.

Jeopardy Template By Carl Lyman © September 2001.

Accounting Jeopardy Unit 1

Using T Accounts / Analyzing the Accounting Equation

The Financial Statements

Starting a Proprietorship: Changes That Affect the Accounting Equation

Unit 2 The Basic Accounting Cycle

Accounting Concepts and Procedures

Lesson 1-1 The Accounting Equation

Debit & Credit Left side & Right side.

Accounting process.

Chapter One Vocabulary.

Chapter 1, 2, 3 Review.

Business Transactions and the Accounting Equation

Chapter 4, Section 2 Applying the Rules of Debit and Credit

Analyzing Transactions

Lesson 1-1 The Accounting Equation

Chapter 4, Section 2 Applying the Rules of Debit and Credit

Presentation transcript:

Accounting Jeopardy Glencoe Accounting Chapters 2-3 By Carl Lyman © December 2001

Accounting Jeopardy Basic Terms Accounting Equation TransactionsPrinciples

Credits  Glencoe Accounting. Glencoe/McGraw-Hill  That’s all folks. Exit

Terms $100  One owner

Terms $100  What is a sole proprietorship?

Terms $200  More than one owner.

Terms $200  What is a partnership?

Terms $300  Owned by stockholders.

Terms $300  What is a corporation?

Terms $400  A person who starts his own business.

Terms $400  What is an entrepreneur?

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  An event that changes either an increase or decrease in an account.

Accounting Equation $400  What is a transaction?

Accounting Equation $500  Claim to the assets of a company.

Accounting Equation $500  What is equity?

Transactions $100  Income earned from the sale of goods or services?

Transactions $100  What is a revenue?

Transactions $200  The price paid for goods and services used to operate a business.

Transactions $200  What is an expense?

Transactions $300  Left side of a transaction.

Transactions $300  What is a debit?

Transactions $400  Increasing side of a liability.

Transactions $400  Which side is the credit side?

Transactions $500  Money used for personal use by the owner.

Transactions $500  What is a withdrawal?

Principles $100  A business exist separate for the owner’s personal finances.

Principles $100  What is accounting principle of business entity?

Principles $200  A uniform period of time for reporting business financial information.

Principles $200  What is an accounting period?

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  Debits = Credits.

Principles $500  What is the equity of accounts?