Powerpoint Jeopardy By Chuck Martucci, Rockville High School -Can be integrated on a smartboard...
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Powerpoint Jeopardy Powerpoint Jeopardy By Chuck Martucci, Rockville By Chuck Martucci, Rockville High School High School -Can be integrated on a -Can be integrated on a smartboard smartboard -Includes Jeopardy sound clip -Includes Jeopardy sound clip -For more information, contact -For more information, contact [email protected] [email protected]
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Transcript of Powerpoint Jeopardy By Chuck Martucci, Rockville High School -Can be integrated on a smartboard...
Powerpoint JeopardyPowerpoint Jeopardy
By Chuck Martucci, Rockville High SchoolBy Chuck Martucci, Rockville High School
-Can be integrated on a smartboard-Can be integrated on a smartboard-Includes Jeopardy sound clip-Includes Jeopardy sound clip-For more information, contact-For more information, [email protected]@vernonct.org
Jeopardy!!Jeopardy!!
Jeopardy!Jeopardy!
100100 100100 100100 100100 100100
200200 200200 200200 200200 200200
300300 300300 300300 300300 300300
400400 400400 400400 400400 400400
500500 500500 500500 500500 500500
Answer:Answer:This principle requires the matching of This principle requires the matching of
revenues earned during an accounting period revenues earned during an accounting period with the expenses incurred to produce the with the expenses incurred to produce the
revenues.revenues.Click HereClick Here
Answer:Answer:
This account carries the same This account carries the same number as the related asset number as the related asset account but with a “.1” suffixaccount but with a “.1” suffix
Click HereClick Here
Answer:
The difference between the asset account and its related accumulated
depreciation account. The value reflected by the accounting records.
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Answer:Answer:
A depreciation method in which the A depreciation method in which the depreciable cost is divided by the estimated depreciable cost is divided by the estimated
useful life.useful life.Click HereClick Here
True or False:
The income statement reports earnings on a specific date.
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Answer:Answer:
Matching the cost of an asset with Matching the cost of an asset with the revenue it is expected to the revenue it is expected to
produce.produce.
Click HereClick Here
Answer:Prepare the Trial BalancePrepare the AdjustmentsPrepare the Adj. Trial Bal. Extend Adjusted Balances Click Here
True or False:True or False:True or False:True or False:
The owner’s equity account in the last two columns on The owner’s equity account in the last two columns on the work sheet is an up-to-date account and includes net the work sheet is an up-to-date account and includes net
income and withdrawals of the current period.income and withdrawals of the current period.Click HereClick Here
Answer:Answer:
This is what the income statement This is what the income statement reports.reports.
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True or False:
The matching concept offers the best measure of net income.
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True or False:True or False:
The historical cost principle allows for The historical cost principle allows for assets to be recorded at actual cost.assets to be recorded at actual cost.
Click HereClick Here
True or False:
A contra-asset is used with a related account to bring about an increase in the net amount of the two account balances.Click Here
Answer:
The second pair of columns on a 10-column work sheet prepared at the end of the period would be :Click Here
Solve:If the book value of an asset is $12,300
and the accumulated depreciation is $2,700 the original cost of the asset would
be….Click Here
Answer:
The fourth pair of columns on a 10-column work sheet prepared at the end of the period would be:Click Here
Answer:Answer:
The adjusting entry for the The adjusting entry for the depreciation expense of office depreciation expense of office equipment for the period would equipment for the period would be:be:Click HereClick Here
DAILY DOUBLE!Solve:
Owner’s equity at the start of the period is $38,000; net income for the period is $40,000; investments by the owner is
$15,000; and withdrawals by the owner is $20,000. The owner’s equity at the end of the period is…
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Answer:
When posting an adjusting entry to the general ledger, write..Click Here
True or False:True or False:A contra-asset has a debit A contra-asset has a debit
balance.balance.
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DAILY DOUBLE!DAILY DOUBLE!
Answer:Answer:
Herb PowellHerb Powell
Click Here Click Here
Answer:Answer:
A computer workstation cost $28,000 has an A computer workstation cost $28,000 has an expected life of 5 years and an expected expected life of 5 years and an expected
salvage value of $3,000. Depreciation expense salvage value of $3,000. Depreciation expense using the straight-line method will be per year.using the straight-line method will be per year.
Click HereClick Here
Solve:
An asset cost $33,000. It has an expected useful life of 5 years and an expected salvage value of $3,000. Depreciation expense for the first year of the asset’s life using the straight-line method is..Click Here
Answer:Answer:
Adjusting Entries affect these Adjusting Entries affect these accounts:accounts:Click HereClick Here
Answer:
Column 7’s Balance is larger than Column 8’s Column 10’s Balance is larger than Column 9’s
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