The Accounting Cycle Jeopardy Template

T charts	Accounting	Vocabulary	Steps to accounting cycle	steps to accounting cycle continued....
100 What is the left side What side are the debits on	100 What is assets= liabilities+equity accounting equation	100 What is revenue income that company gets money from business activity usually from the sales of goods and services to customers	100 identify and Analyze Transaction , Journalize, Post, and Prepare Worksheet what are the first four steps	100 identify the event as a transaction and generate the document in step 1 how should a person identify and analyze their transaction
200 What is cash and rent utilities cash used to pay rent what to account are affected	200 What is accounting __________ is the language of business	200 What is a balance sheet statement of financial is a summary of the financial balance of a sole proprietorship	200 closing entries are made on the worksheet to transfer the balance of the temporary account what are closing entries and step 6 made for	200 as a debit and credit in step 3 the transactions are recorded as what
300 What is asset cash is a	300 assets thing of value that you own	300 What is accounts payable money owed by a business to its suppliers shown as a liability on a companies balance sheet	300 after the closing entries are made when is the final trial balance of the ledger calculated	300 receipts, invoice, and checks examples in step 1 for analyzing a transaction
400 What is owners equity sales is a	400 What is owners equity value of the business to the owner if he or she were to sell it right now	400 What is a expense the cost required for something	400 that the sum of the debits are equal to the credits A worksheet including a trial balance is prepared from the ledger to verify what	400 a individual account in step 3 the ledge organizes what kind of account
500 What is a liability accounts payable is a	500 What is liabilities money or things that we owe	500 What is accounts receivable enforceable for payment from a business to a customer	500 the journal puts all transactions together in one place in an organized way step 2 journalize includes what	500 accurate and deferred adjusting entries are made on the worksheet for what kind of items

the accounting cycle

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