(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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The first two closing entries to the Income Summary account indicate a debit of $55,250 and a credit of $66,700. The third closing entry would include___(could be the debit or the credit):
$11,450 Debit to Income Summary
George's Grocers keeps a $100 change fund in its cash register. The cash sales per the cash register tape on January 30 were $375. The cash count was $478. Would the journal entry to record the sales and cash overage (or shortage) for January 30
Credit to Cash Short or Over
On April 1, Wake Up Coffee created a petty cash fund starting with $100. On April 30, there was only $5 remaining in the petty cash box. The custodian of the fund presented vouchers to the company accountant for repairs of $55 and Delivery Expens
Debit to Repairs Expense
The process of determining why a difference exists between a firm’s records and the bank’s records and bringing the two sets of records into balance is known as:
Reconciling the Bank Statement
The process of allocating the cost of a long-term asset as an expense of operations during the asset's expected useful life is known as
Depreciation
The difference between net sales and the cost of goods sold
Gross Profit
Machinery costing $17,000 with an estimated salvage value of $1,160 and an estimated life of 4 years was purchased on October 31, 20X1. Using the straight-line depreciation method, what is the amount of depreciation expense to be recorded at Dec
$660
A company signed a 4-month contract for $1,240 of prepaid advertising on June 1, 20X1. The adjusting journal entry for the amount of the advertising contract that expired during the month of June 20X1 will include a___(could be the debit or the
Credit to Prepaid Expense
After closing entries are posted, these acocunts will have zero balances
Revenue, Expense, and Drawing Accounts
Closing entries do not zero out these acocunts
Asset, Liability, and Equity Accounts
The first two closing entries to the Income Summary account indicate a debit of $66,700 and a credit of $55,250. The third closing entry would be___(could be the debit or the credit):
$11,450 Credit to Income Summary
The adjusting entry to record depreciation expense for the period will include a___(could be the debit or the credit side).
Debit to Depreciation Expense
A company purchased supplies for $1,100 on June 1, 20X1. Inventory of supplies was $350 on June 30, 20X1. The adjusting journal entry for the amount of the supplies used during the month will include a____(could be the debit or the credit) .
Debit to Supplies Expense
On April 1, Wake Up Coffee created a petty cash fund starting with $100. On April 30, there was only $5 remaining in the petty cash box. The custodian of the fund presented vouchers to the company accountant for repairs of $55 and Delivery Expens
Debit to Delivery Expense
The balance of this account is reported as a selling expense in the Operating Expenses section of a multiple-step income statement.
Advertising Expense
A company signed a 4-month contract for $1,240 of prepaid advertising on June 1, 20X1. The adjusting journal entry for the amount of the advertising contract that expired during the month of June 20X1 will include a___(could be the debit or the
Debit to Advertising Expense
The difference between total current assets and total current liabilities
Working Capital
If the prepaid expenses are not adjusted, assets on the balance sheet will be___.
Overstated
A check issued for $565 to pay a vendor on account was recorded in the firm's records as $655; the canceled check was properly listed on the bank statement at $565. The journal entry for this reconciling item would include a_____
Debit to Cash
A check issued for $890 to pay a vendor on account was recorded in the firm's records as $980; the canceled check was properly listed on the bank statement at $890. To arrive at an accurate balance on a bank reconciliation statement, the error s
Added to the Book Balance
The first two closing entries to the Income Summary account indicate a debit of $66,700 and a credit of $55,250. The third closing entry would be___(could be the debit or the credit):
$11,450 Debit to Capital
The first two closing entries to the Income Summary account indicate a debit of $55,250 and a credit of $66,700. The third closing entry would include___(could be the debit or the credit):
$11,450 Credit to Capital
On April 1, Wake Up Coffee created a petty cash fund starting with $100. On April 30, there was only $5 remaining in the petty cash box. The custodian of the fund presented vouchers to the company accountant for repairs of $55 and Delivery Expens
Credit to Cash
The balance of a liability account is extended to which column of the worksheet?
Balance Sheet Credit column
The closing of this account requires a credit to the Income Summary account.
Fees Income
The unadjusted net income on the income statement was $23,760. After journalizing and posting the adjusting entries for the $1,620 of supplies used and $3,700 of depreciation on the company's equipment for the year, the adjusted net income is:
$18,440
If a firm's bank reconciliation statement shows a bank statement balance of $13,475, total deposits in transit of $1,510, and total outstanding checks of $1,090, the adjusted bank balance is:
$13,895
This could be a reason why the book balance of cash may not agree with the balance on the bank statement
Outstanding Checks
George's Grocers keeps a $100 change fund in its cash register. The cash sales per the cash register tape on January 30 were $405. The cash count was $502. Would the journal entry to record the sales and cash overage (or shortage) for January 30
Debit to Cash Short or Over
A company purchased supplies for $1,100 on June 1, 20X1. Inventory of supplies was $350 on June 30, 20X1. The adjusting journal entry for the amount of the supplies used during the month will include a____(could be the debit or the credit) .
Credit to Supplies
The adjusting entry to record depreciation expense for the period will include a___(could be the debit or the credit side).
Credit to Accumulated Depreciation
