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Accounts Receivable Jeopardy 400 500 300 1 200 400 500 100 200 300 100 200 300 400 500 400 300 200 100 234.

Published byAugustine Samuel Lang Modified over 8 years ago

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Presentation on theme: "Accounts Receivable Jeopardy 400 500 300 1 200 400 500 100 200 300 100 200 300 400 500 400 300 200 100 234."— Presentation transcript:

1

2 Accounts Receivable Jeopardy

3 400 500 300 1 200 400 500 100 200 300 100 200 300 400 500 400 300 200 100 234

4 Tests to be taken by all senior business concentrators and completers at Mount Union

5 What are NOCTI tests?

6 Accounts receivable that cannot be collected

7 What are Uncollectible Accounts?

8 DAILY DOUBLE

9 Canceling the balance of a customer because the customer is not expected to pay

10 What is Writing Off an Account?

11 Recording uncollectible accounts expense only when an amount is known to be uncollectible

12 What is the Direct Write-Off method?

13 Currently going on in Vancouver, Canada

14 What are the Winter Olympics?

15 The first step when recording the collection of an account previously written off as uncollectible

16 What is Reopening the Customer Account?

17 Crediting the estimated value of uncollectible accounts to a contra account

18 What is the Allowance Method?

19 Assumes that a percentage of each sales dollar will become uncollectible

20 What is the Percentage of Sales Method?

21 Today…celebrating George Washington’s and Abraham Lincoln’s birthdays

22 What is President’s Day?

23 Assumes that a percentage of account receivable will become uncollectible

24 What is the Percentage of Accounts Receivable Method?

25 Analyzing accounts receivable according to when they are due

26 What is Aging Accounts Receivable?

27 The number of times the average amount of accounts receivable is collected

28 What is the Accounts Receivable Turnover Ratio?

29 The 2010 Super Bowl Champions

30 Who are the New Orleans Saints?

31 The difference between the balance of accounts receivable and the allowance for uncollectible accounts

32 What is the Book Value of Accounts Receivable?

33 The number of days in a year divided by the Accounts Receivable Turnover Ratio

34 What is the Average Number of Days for Payment?

35 Also referred to as Bad Debts

36 What are Uncollectible Accounts?

37 DAILY DOUBLE

38 An entry made at the end of a fiscal period to record estimated uncollectible accounts expense

39 What is an Adjusting Entry?

40 The journal used to record reopening a customer’s account that was previously written off

41 What is the General Journal?

42 The NFL football player coming to visit Mount Union High School

43 Who is Marcus Colston?

44 The journal used to record the collection of an account previously written off

45 What is the Cash Receipts Journal?

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