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.

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