Jeopardy

1. Jeopardy Choose a category. You will be given the answer. You must give the correct question. Click to begin.

2. Choose a point value. Choose a point value. Click here for Final Jeopardy

3. Normal Balances Account Classi- fication Transaction Effects Source Documents Journal Entries Skills & Ethics 10 Point 10 Point 10 Point 10 Point 10 Point 10 Point 20 Points 20 Points 20 Points 20 Points 20 Points 20 Points 30 Points 30 Points 30 Points 30 Points 30 Points 30 Points 40 Points 40 Points 40 Points 40 Points 40 Points 40 Points 50 Points 50 Points 50 Points 50 Points 50 Points 50 Points

4. What is an example of an account that has a normal credit balance? a. Advertising Expense b. Accounts Receivable/Davis Company c. Delivery Revenue d. Samuel Johnson, Drawing}

5. C

6. What is an example of an account that has a normal debit balance? a. Accounts Receivable/Oakdale School b. Accounts Payable/Jones Supply c. Mary Johnson, Capital d. Sales

7. A

8. What is an example of an account that has a normal debit balance? a. Accounts Payable/Adam's Office Supply b. Advertising Expense c. Mary Johnson, Capital d. Sales

9. B

10. What is an example of an account that has a normal debit balance? a. Mary Johnson, Capital b. Accounts Payable/Ray's Office Equipment c. Rent Expense d. Sales

11. C

12. What is an example of an account that has a normal credit balance? a. Cash b. Joan Brown, Drawing c. Supplies d. Tyler Jackson, Capital

13. D

14. Cash, Office Equipment, and Prepaid Insurance are all classified as: a. assets. b. liabilities. c. owner's equity. d. revenue.

15. A

16. Rent, the telephone bill, and advertising costs are all classified as: a. assets. b. expenses. c. liabilities. d. revenue.

17. B

18. Sales is classified as: a. assets. b. expenses. c. liabilities. d. revenue.

19. D

20. Mariah Smith, Capital and Mariah Smith, Drawing are both classified as: a. owner's equity b. expenses. c. liabilities. d. revenue.

21. A

22. Mariah Smith, Capital and Mariah Smith, Drawing are both classified as: a. owner's equity b. expenses. c. liabilities. d. revenue.

23. C

24. What is the effect when $300 cash is paid to Accounts Payable/Bob's Office Supply? a. Assets decrease $300 and owner's equity decreases $300. b. Assets increase $300 and owner's equity increases $300. c. Assets increase $300 and liabilities decreases $300. d. Assets decrease $300 and liabilities decrease $300

25. D

26. What is the effect when $200 cash is paid to an advertising agency for advertisements for the business? a. Assets decrease $200 and owner's equity decreases $200. b. Assets increase $200 and owner's equity increases $200. c. Assets increase $200 and owner's equity decreases $200. d. Liabilities increase $200 and owner's equity decreases $200

27. A

28. What is the effect on owner's equity when a business receives $2000 cash from sales? a. Decreased by $2000 b. Increased by $2000 c. Decreased by $4,000 d. Increased by $4,000

29. B

30. What is the effect on assets when the owner increases owner's equity by investing $1,000 in the business? a. Decreased by $1,000 b. Decreased by $2,000 c. Increased by $1,000 d. Increased by $2,000

31. C

32. What is the effect on assets when the owner decreases owner's equity by withdrawing $1,000 in the business? a. Decreased by $1,000 b. Decreased by $2,000 c. Increased by $1,000 d. Increased by $2,000

33. A

34. In the transaction, BILLED ANDERSON COMPANY FOR WORK COMPLETED, the source document is a/an: a. check stub. b. invoice. c. memorandum. d. receipt

35. B

36. In the transaction, BOUGHT SUPPLIES ON ACCOUNT FROM DIXON SUPPLY CO., the source document is a/an a. check stub. b. invoice. c. memorandum. d. receipt

37. B

38. In the transaction, RECEIVED CASH FROM OWNER AS AN INVESTMENT, the source document is a/an: a. calculator tape. b. check stub. c. invoice. d. receipt

39. D

40. In the transaction, PAID CASH TO OWNER FOR PERSONAL USE, the source document is a/an: a. calculator tape. b. check. c. invoice. d. receipt

41. B

42. In the transaction, RECEIVED CASH FROM JONES SUPPLY COMPANY ON ACCOUNT, the source document is a/an: a. calculator tape. b. check stub. c. invoice. d. receipt

43. D

44. The transaction, PAID CASH FOR MISCELLANEOUS EXPENSE, $400, would result in which journal entry? a. Debit Cash and credit Miscellaneous Expense b. Debit Cash and debit Miscellaneous Expense c. Debit Miscellaneous Expense and credit Cash d. Debit Supplies and credit Miscellaneous Expense

45. C

46. The transaction, SOLD SERVICES ON ACCOUNT TO BETH PARKER, would result in which journal entry? a. Debit Accounts Receivable/Beth Parker and credit Cash b. Debit Accounts Receivable/Beth Parker and credit Sales c. Debit Cash and credit Accounts Receivable/Beth Parker d. Debit Cash and credit Sales

47. B

48. The transaction, BOUGHT SUPPLIES ON ACCOUNT FROM DAVIS SUPPLY STORE, would result in which journal entry? a. Debit Accounts Payable/Davis Supply Store and credit Supplies b. Debit Supplies and credit Accounts Payable/Davis Supply Store c. Debit Supplies and credit Supplies Expense d. Debit Supplies Expense and credit Supplies

49. B

50. The transaction, RECEIVED CHECK FROM PARKER, INC., IN PAYMENT ON ITS ACCOUNT, would result in which journal entry? a. Debit Accounts Receivable/Parker INC., and credit Cash b. Debit Cash and credit Accounts Receivable/Parker, INC. c. Debit Cash and credit Supplies d. Debit Supplies and credit Cash