2. CCNA1 v3 Module 1 v3 Accounting I Midterm Review JEOPARDY K. Martin

3. CCNA1 v3 Module 1 RouterModesWANEncapsulationWANServicesRouterBasicsRouterCommands 100 200 300 400 500RouterModesWANEncapsulationWANServicesRouterBasicsRouterCommands 100 200 300 400 500 Analyzing Transactions Source Documents Ethics and Ethics and Workplace Skills The Work The Work Sheet Financial Statements Closing Entries 100 200 300 400 500 100 200 300 400 500 ► ► ► F i n a l J e o p a r d y ◄ ◄ ◄

4. CCNA1 v3 Module 1 Question The accounting equation. Analyzing Transactions 100 A: What is Assets=Liabilities + Owner’s Equity? 100 200 300 400 500 accounting

5. CCNA1 v3 Module 1 Question A: What is debit? The normal balance of Miscellaneous Expense. CCNA1 v3 Module 1 Analyzing Transactions 200 100 200 300 400 500

6. CCNA1 v3 Module 1 Question 100 200 300 400 500 A: What is an Account? A record summarizing all the information pertaining to a single item in the accounting equation. CCNA1 v3 Module 1 Analyzing Transactions 300

7. CCNA1 v3 Module 1 Question 100 200 300 400 500 A: What are the Owner’s Equity Accounts? Revenue, Expenses, Capital, and Drawing. CCNA1 v3 Module 1 Analyzing Transactions 400

8. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What is Debit Supplies and Credit Accounts Payable, Davis Supply Company for $800. The journal entry for “Bought supplies on account from Davis Supply Company, $800.” Analyzing Transactions 500

9. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What are the Source Documents? Memorandum, receipt, sales invoice, check stub, and calculator tape. Source Documents 100 200 300 400 500

10. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What is a Check Stub? The source document for paying cash. Source Documents 200

11. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What is a Receipt? Source Documents 300 The source document used if I receive $500 from the owner as an investment.

12. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What is the Doc. No.? The column in the General Journal in which source documents are recorded. Source Documents 400

13. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What is a Memorandum? Source Documents 500 The source document used for a purchase on account.

14. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What is Competence? Being able to properly do your job. Ethics and Workplace Skills 100

15. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What are 21 st Century, Workplace, and Foundation skills? The three types of workplace skills. Ethics and Workplace Skills 200

16. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What is Independence? Not deliberately altering financial information to benefit yourself. Ethics and Workplace Skills 300

17. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What are Twenty-First Century skills? Includes problem solving skills, self- direction, and other skills that are related to the marketplace. Ethics and Workplace Skills 400

18. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What are Workplace skills? Technology skills, being able to quickly learn new technology, and other skills that relate directly to the workplace. Ethics and Workplace Skills 500

19. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What is a Work Sheet? A rough draft for financial statements. The Work Sheet 100

20. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What are the sections of a Work Sheet? Header, account titles, trial balance, adjustments, income statement, and balance sheet The Work Sheet 200

21. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What is the Account Titles column? The first column on a worksheet. The Work Sheet 300

22. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What is double ruling below the totals? The last step after any column total is calculated. The Work Sheet 400

23. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What are the Insurance Expense and Supplies Expense? The two accounts debited in the adjusting entries. The Work Sheet 500

24. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What is the Income Statement? The financial statement that shows revenue, expenses, and net income or net loss Financial Statements 100

25. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What are the sections of a Balance Sheet? Header, Assets, Liabilities, and Owner’s Equity Financial Statements 200

26. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What is the Balance Sheet? The financial statement that shows the financial health of a company. Financial Statements 300

27. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What are Company Name, Name of Report, and Date? The sections of a heading for any financial statement in order. Financial Statement 400

28. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What is Calculating the Component Percentages? The last step in creating the income statements Financial Statements 500

29. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What are the Temporary Accounts? Sales, Expenses, Drawing, and Income Summary. Closing Entries 100

30. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What is the Income Summary Account? Where the Sales and Expense accounts are closed. Closing Entries 200

31. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What is the Capital Account? Where the Income Summary and Drawing accounts are closed. Closing Entries 300

32. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: How is an account closed? Doing the opposite of the normal balance for the balance of the account. Closing Entries 400

33. CCNA1 v3 Module 1 Question 100 200 300 400 500 CCNA1 v3 Module 1 A: What is a Net Income? A credit balance in the Income Summary account. Closing Entries 500

34. CCNA1 v3 Module 1 Question What are Assets-100, Liabilities-200, Owner’s Equity-300, Sales-400, and Expenses-500? The account numbers for each category in the chart of accounts. Final Jeopardy CCNA1 v3 Module 1 100 200 300 400 500