Jeopardy
MONEY
By Antonella Maccarone
December 2004
Jeopardy
Vocabulary
Analyzing the
Effect of
Transactions
Analyzing
Accounting
Practices
Forms of
Business
100
100
100
100
200
200
200
200
300
300
300
300
400
400
400
400
500
500
500
500
Credits

That’s all folks.
Exit
Vocabulary $100
AN AMOUNT OWED BY A
BUSINESS
Vocabulary $100
What is a liability?
VOCABULARY $200
AN EQUATION SHOWING
THE RELATIONSHIP AMONG
ASSETS, LIABILITIES, OR
OWNER’S EQUITY
Category 1 $200
WHAT IS THE ACCOUNTING
EQUATION
VOCABULARY $300
A business owned by one
person
VOCABULARY $300
WHAT IS A SOLE
PROPRIETORSHIP?
VOCABUALRY $400
THE SIDE OF THE ACCOUNT
THAT IS INCREASED
VOCABULARY $400
WHAT IS THE NORMAL
BALANCE?
VOCABULARY $500
A SALE FOR WHICH CASH
WILL BE RECEIVED AT A
LATER DATE
VOCABULARY $500
WHAT IS A SALE ON
ACCOUNT?
Transactions
$100
RECEIVED CASH FROM
SALES
$100
WHAT IS CASH IS
INCREASED AND CAPITAL
IS INCREASED?
$200
SOLD SERVICES ON
ACCOUNT TO KIDS TIME
Category 2 $200
WHAT IS ACCOUNTS
RECEIVABLE IS INCREASED
AND CAPITAL IS
INCREASED?
$300
PAID CASH FOR RENT
$300
WHAT IS CASH IS
DECREASED AND
CAPITAL IS
DECREASED?
OR RENT EXPENSE
INCREASED
$400
PAID CASH TO OWNER FOR
PERSONAL USE
$400
WHAT IS CASH IS
DECREASED AND DRAWING
IS INCREASED/ OR
CAPITAL IS DECREASED
$500
RECEIVED CASH ON
ACCOUNT FROM KIDS TIME
Tranactions
$500
What is cash is debited and accounts
receivable is credited
$100
WHEN A BUSINESS
RECEIVES REVENUE SALES
IS
$100
WHAT IS INCREASED BY A
CREDIT?
$200
WHEN THE OWNER WITHDRAWS CASH THE
OWNER’S DRAWING ACCOUNT IS
$200
WHAT IS INCREASED BY A
DEBIT?
$300
WHEN you receive cash from sales the
sales account is
$300
WHAT IS INCREASED BY A
CREDIT?
$400
WHEN YOU PAY CASH FOR INSURANCE
INSURANCE IS
$400
WHAT IS INSURANCE IS
INCREASED ON THE DEBIT
SIDE
$500
WHEN YOU PAY CASH ON
ACCOUNT TO LING MUSIC
SUPPLIES ,CASH IS
$500
WHAT IS CASH IS
DECREASED ON TE CREDIT
SIDE
Category 4 $100
A BUSINESS OWNED BY ONE
PERSON
$100
WHAT IS A SOLE
PROPRIETORSHIP?
$200
AN ORGANIZATION WITH
THE LEGAL RIGHTS OF A
PERSON AND WHICH MAY
BE OWNED BY MANY
PEOPLE
$200
WHAT IS A CORPORATION?
$300
A BUSINESS IN WHICH TWO
OR MORE PERSONS
COMBINE THEIR ASSETS
AND SKILLS
$300
WHAT IS A PARTNERSHIP?
$400
UNLIMITED LIABILITY
$400
WHAT IS A CORPORATION?
$500
WHO SHOT HIS FRIEND ON
A HUNTING TRIP?
$500
WHO IS VICE PRESIDENT
CHENEY?