Buying orsellingsomething oncredit instead ofpayingimmediately.The businessis expectedto continueoperating inthe future.Accounting thatprovides financialinformation topeople outside thebusiness, likeinvestors andcreditors.owner'sequity(-700) cash(-700)cash(+1,200)owner'sequity(+1,200)Money abusinessowes toothers.cash(+25,000)owner'sequity(+25,000)Accountinginformation isrecorded andprocessedusing acomputer.deliveryequipment(+12,000)accountspayable(+12,000)cash (+200)accountsreceivable(-200)Moneycustomersowe thebusiness.(Asset)Assets =Liabilities +Owner'sEquity (A = L+ OE)Moneyearned fromselling goodsor services.officeequipment(+400)owner'sequity (+400)Accounting thatprovidesinformation topeople insidethe business,like managers.A person orbusinessthat is owedmoney.Money orproperty theowner takesout forpersonal use.A system usedto record andreport abusiness’sfinancialtransactions.Accountinginformation isrecorded andprocessed byhand.An event thatchanges abusiness'sassets,liabilities, orowner's equity.computerequipment(+3,000)cash(-3,000)A record used totrack changes ina specific item,such as Cash orAccountsPayable.cash (-500)owner'sequity(-500)Valuablethings abusinessowns.accountsreceivable(+200) officeequipment(-200)accountspayable(-350) cash(-350)The businessand owner aretreated asseparate foraccountingpurposes.Money thebusinessowes toothers.(Liability)Money orproperty theowner putsinto thebusiness.A legalright topropertyor assets.The owner'sclaim to thebusiness'sassets.Costs ofrunningthebusiness.The owner'sfinancialinterest inthebusiness.Anythingvaluable thata person orbusinessowns.Financialinformation isreported forspecific periods,such as a month,quarter, or year.Rules andstandardsaccountantsfollow whenpreparingfinancial reports.Buying orsellingsomething oncredit instead ofpayingimmediately.The businessis expectedto continueoperating inthe future.Accounting thatprovides financialinformation topeople outside thebusiness, likeinvestors andcreditors.owner'sequity(-700) cash(-700)cash(+1,200)owner'sequity(+1,200)Money abusinessowes toothers.cash(+25,000)owner'sequity(+25,000)Accountinginformation isrecorded andprocessedusing acomputer.deliveryequipment(+12,000)accountspayable(+12,000)cash (+200)accountsreceivable(-200)Moneycustomersowe thebusiness.(Asset)Assets =Liabilities +Owner'sEquity (A = L+ OE)Moneyearned fromselling goodsor services.officeequipment(+400)owner'sequity (+400)Accounting thatprovidesinformation topeople insidethe business,like managers.A person orbusinessthat is owedmoney.Money orproperty theowner takesout forpersonal use.A system usedto record andreport abusiness’sfinancialtransactions.Accountinginformation isrecorded andprocessed byhand.An event thatchanges abusiness'sassets,liabilities, orowner's equity.computerequipment(+3,000)cash(-3,000)A record used totrack changes ina specific item,such as Cash orAccountsPayable.cash (-500)owner'sequity(-500)Valuablethings abusinessowns.accountsreceivable(+200) officeequipment(-200)accountspayable(-350) cash(-350)The businessand owner aretreated asseparate foraccountingpurposes.Money thebusinessowes toothers.(Liability)Money orproperty theowner putsinto thebusiness.A legalright topropertyor assets.The owner'sclaim to thebusiness'sassets.Costs ofrunningthebusiness.The owner'sfinancialinterest inthebusiness.Anythingvaluable thata person orbusinessowns.Financialinformation isreported forspecific periods,such as a month,quarter, or year.Rules andstandardsaccountantsfollow whenpreparingfinancial reports.

Chap 2 & 3 Review - Call List

(Print) Use this randomly generated list as your call list when playing the game. There is no need to say the BINGO column name. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.


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  1. Buying or selling something on credit instead of paying immediately.
  2. The business is expected to continue operating in the future.
  3. Accounting that provides financial information to people outside the business, like investors and creditors.
  4. owner's equity (-700) cash (-700)
  5. cash (+1,200) owner's equity (+1,200)
  6. Money a business owes to others.
  7. cash (+25,000) owner's equity (+25,000)
  8. Accounting information is recorded and processed using a computer.
  9. delivery equipment (+12,000) accounts payable (+12,000)
  10. cash (+200) accounts receivable (-200)
  11. Money customers owe the business. (Asset)
  12. Assets = Liabilities + Owner's Equity (A = L + OE)
  13. Money earned from selling goods or services.
  14. office equipment (+400) owner's equity (+400)
  15. Accounting that provides information to people inside the business, like managers.
  16. A person or business that is owed money.
  17. Money or property the owner takes out for personal use.
  18. A system used to record and report a business’s financial transactions.
  19. Accounting information is recorded and processed by hand.
  20. An event that changes a business's assets, liabilities, or owner's equity.
  21. computer equipment (+3,000) cash (-3,000)
  22. A record used to track changes in a specific item, such as Cash or Accounts Payable.
  23. cash (-500) owner's equity (-500)
  24. Valuable things a business owns.
  25. accounts receivable (+200) office equipment (-200)
  26. accounts payable (-350) cash (-350)
  27. The business and owner are treated as separate for accounting purposes.
  28. Money the business owes to others. (Liability)
  29. Money or property the owner puts into the business.
  30. A legal right to property or assets.
  31. The owner's claim to the business's assets.
  32. Costs of running the business.
  33. The owner's financial interest in the business.
  34. Anything valuable that a person or business owns.
  35. Financial information is reported for specific periods, such as a month, quarter, or year.
  36. Rules and standards accountants follow when preparing financial reports.