Jeopardy
MONEY
By Antonella Maccarone
December 2004
Jeopardy
Vocabulary
Financial
Statements/
Forms
Analyzing
Accounting
Procedures
Journalizing
and Posting
Adjusting
and Closing
Entries
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 JOURNAL WITH TWO
AMOUNT COLUMNS IN
WHICH ALL KINDS OF
ENTRIES CAN BE
RECORDED
VOCABULARY $300
WHAT IS A GENERAL
JOURNAL?
VOCABUALRY $400
AN ENDORSEMENT
INDICATING A NEW
OWNER OF A CHECK
VOCABULARY $400
WHAT IS A SPECIAL
ENDORSMENT?
VOCABULARY $500
CHANGES RECORDED ON A
WORK SHEET TO UPDATE
GENERAL LEGDER
ACCOUNTS AT THE END OF
A FISCAL PERIOD
VOCABULARY $500
What are adjustments?
$100
A FINANCIAL STATEMENT
SHOWING THE REVENUE
AND EXPENSES FOR A
FISCAL PERIOD
$100
WHAT IS THE INCOME
STATEMENT?
$200
A COLUMNAR ACCOUNTING
FORM USED TO
SUMMARIZE THE GENERAL
LEDGER INFORMATION
NEEDED TO PREPARE
FINANCIAL STATEMENTS.
Category 2 $200
WHAT IS A WORKSHEET?
$300
A FINANCIAL STATEMENT
THAT REPORTS ASSETS,
LIABILITIES, AND OWNER’S
EQUITY ON A SPECIFIC
DATE
$300
WHAT IS A BALANCE
SHEET?
$400
A REPORT OF DEPOSITS,
WITHDRAWALS, AND BANK
BALANCES SENT TO A
DEPOSITOR BY A BANK
$400
WHAT IS A BANK
STATEMENT?
$500
A PROOF OF EQUALITY OF
DEBITS AND CREDITS IN A
GENERAL LEDGER
$500
WHAT IS A TRIAL BALANCE?
$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
A NET LOSS IN ENTERED IN THE WORK
SHEETS
$300
WHAT IS INCOME
STATEMENT CREDIT AND
BALANCE SHEET CREDIT?
$400
WHEN PREPARING A
BALANCE SHEET, THE
AMOUNT OF THE OWNER’S
CAPITAL IS OBTAINED
FROM
$400
WHAT IS THE WORK SHEETS
BALANCE SHEET CREDIT
COLUMN?
$500
A BALANCE SHEET REPORTS
A BUSINESS FINANCIAL
$500
WHAT IS CONDITION ON A
SPECIFIC DATE?
Category 4 $100
THE PROCEDURE FOR
TRANSFERRING
INFORMATION FROM A
JOURNAL ENTRY TO A
LEDGER ACCOUNT
$100
WHAT IS POSTING?
$200
THE JOURNAL ENTRY TO
ADJUST SUPPLIES
$200
WHAT IS DEBIT SUPPLIES
EXPENSE AND CREDIT
SUPPLIES?
$300
TEMPORARY ACCOUNTS
BEGIN EACH NEW FISCAL
PERIOD WITH A
$300
WHAT IS A ZERO BALANCE?
$400
AFTER CLOSING ENTRIES
ARE POSTED, THE
OWNER’S CAPITAL
ACCOUNT BALANCE
SHOULD BE THE SAME AS
$400
WHAT IS SHOWN ON THE
BALANCE SHEET FOR THE
FISCAL PERIOD?
$500
THE JOURNAL ENTRY TO
CLOSE INCOME SUMMARY
WHEN THERE IS NET
INCOME
$500
WHAT IS DEBIT INCOME
SUMMARY AND CREDIT
OWNER’S CAPITAL?