DR: AccountsReceivable, CR:Allowance forDoubtful Accounts;DR: Cash, CR:Accounts Receivable((Cost – ResidualValue) / EstimatedTotal Production) *Actual ProductionDR: allowancefor doubtfulaccounts, CR:accountsreceivablephysicalsubstance thatincludes land,buildings,equipment, etc.DR: Bad DebtExpense, CR:Allowance forDoubtfulAccountsThe chance that thefuture event or eventswill occur is more thanremote but less thanlikely that is disclosedon the footnote but noton the balance sheetRaw Materials,Work inProcess, andFinishedGoodsno physicalsubstance thatincludespatents,copyrights,goodwill, etc.series ofconsecutive,equal,periodicpayments: occurs whenone companybuys anothercompanyPrincipal *Annual InterestRate* (Numberof Months/ 12months)(BeginningInventory +Purchases ofMerchandiseduring the Year) –Ending Inventoryannualinterestrate paidpurchasetransactions arerecordeddirectly in aninventoryaccountThe chance that thefuture event orevents will occur isslight that will not berecorded on thefootnote or balancesheetThe chance thatthe future event orevents will occuris high thatappears as aliability on theBalance Sheetadded tothe assetaccount(capitalize)title of goodschanges hands ondelivery (companytakesresponsibility untilthe end of thejourney)expensedin theperiodincurredequals the amountby which thepurchase priceexceeds fairmarket value ofnet assetsacquired(Cost –AccumulatedDepreciation)* (2/UsefulLife)Book Value< Cash Paidto RetireBondsno assets arepledged asguarantee ofrepayment atmaturityDR: InterestExpense,CR: BondDiscount,CashSales Revenue– Credit Cardand SalesDiscount –Sales Returnsand AllowancesBook Value> Cash Paidto RetireBondsCurrentAssets -CurrentLiabilities(Cost –ResidualValue) * (1/Useful Life)inventorymethod endsup with leastincome taxInventorymethod endsup with ahigher netincomerate set bymarkets atthe time ofissuanceNo up-to-daterecord ofinventory ismaintainedduring the yeartitle of goodschanges hands atthe shipping date(takesresponsibility atthe start of thejourney)DR: Cash,CR: BondPremium,BondsPayableDR: AccountsReceivable, CR:Allowance forDoubtful Accounts;DR: Cash, CR:Accounts Receivable((Cost – ResidualValue) / EstimatedTotal Production) *Actual ProductionDR: allowancefor doubtfulaccounts, CR:accountsreceivablephysicalsubstance thatincludes land,buildings,equipment, etc.DR: Bad DebtExpense, CR:Allowance forDoubtfulAccountsThe chance that thefuture event or eventswill occur is more thanremote but less thanlikely that is disclosedon the footnote but noton the balance sheetRaw Materials,Work inProcess, andFinishedGoodsno physicalsubstance thatincludespatents,copyrights,goodwill, etc.series ofconsecutive,equal,periodicpayments: occurs whenone companybuys anothercompanyPrincipal *Annual InterestRate* (Numberof Months/ 12months)(BeginningInventory +Purchases ofMerchandiseduring the Year) –Ending Inventoryannualinterestrate paidpurchasetransactions arerecordeddirectly in aninventoryaccountThe chance that thefuture event orevents will occur isslight that will not berecorded on thefootnote or balancesheetThe chance thatthe future event orevents will occuris high thatappears as aliability on theBalance Sheetadded tothe assetaccount(capitalize)title of goodschanges hands ondelivery (companytakesresponsibility untilthe end of thejourney)expensedin theperiodincurredequals the amountby which thepurchase priceexceeds fairmarket value ofnet assetsacquired(Cost –AccumulatedDepreciation)* (2/UsefulLife)Book Value< Cash Paidto RetireBondsno assets arepledged asguarantee ofrepayment atmaturityDR: InterestExpense,CR: BondDiscount,CashSales Revenue– Credit Cardand SalesDiscount –Sales Returnsand AllowancesBook Value> Cash Paidto RetireBondsCurrentAssets -CurrentLiabilities(Cost –ResidualValue) * (1/Useful Life)inventorymethod endsup with leastincome taxInventorymethod endsup with ahigher netincomerate set bymarkets atthe time ofissuanceNo up-to-daterecord ofinventory ismaintainedduring the yeartitle of goodschanges hands atthe shipping date(takesresponsibility atthe start of thejourney)DR: Cash,CR: BondPremium,BondsPayable

ACCT 2301 Exam 2 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. DR: Accounts Receivable, CR: Allowance for Doubtful Accounts; DR: Cash, CR: Accounts Receivable
  2. ((Cost – Residual Value) / Estimated Total Production) * Actual Production
  3. DR: allowance for doubtful accounts, CR: accounts receivable
  4. physical substance that includes land, buildings, equipment, etc.
  5. DR: Bad Debt Expense, CR: Allowance for Doubtful Accounts
  6. The chance that the future event or events will occur is more than remote but less than likely that is disclosed on the footnote but not on the balance sheet
  7. Raw Materials, Work in Process, and Finished Goods
  8. no physical substance that includes patents, copyrights, goodwill, etc.
  9. series of consecutive, equal, periodic payments
  10. : occurs when one company buys another company
  11. Principal * Annual Interest Rate* (Number of Months/ 12 months)
  12. (Beginning Inventory + Purchases of Merchandise during the Year) – Ending Inventory
  13. annual interest rate paid
  14. purchase transactions are recorded directly in an inventory account
  15. The chance that the future event or events will occur is slight that will not be recorded on the footnote or balance sheet
  16. The chance that the future event or events will occur is high that appears as a liability on the Balance Sheet
  17. added to the asset account (capitalize)
  18. title of goods changes hands on delivery (company takes responsibility until the end of the journey)
  19. expensed in the period incurred
  20. equals the amount by which the purchase price exceeds fair market value of net assets acquired
  21. (Cost – Accumulated Depreciation) * (2/Useful Life)
  22. Book Value < Cash Paid to Retire Bonds
  23. no assets are pledged as guarantee of repayment at maturity
  24. DR: Interest Expense, CR: Bond Discount, Cash
  25. Sales Revenue – Credit Card and Sales Discount – Sales Returns and Allowances
  26. Book Value > Cash Paid to Retire Bonds
  27. Current Assets - Current Liabilities
  28. (Cost – Residual Value) * (1/ Useful Life)
  29. inventory method ends up with least income tax
  30. Inventory method ends up with a higher net income
  31. rate set by markets at the time of issuance
  32. No up-to-date record of inventory is maintained during the year
  33. title of goods changes hands at the shipping date (takes responsibility at the start of the journey)
  34. DR: Cash, CR: Bond Premium, Bonds Payable