bellringer - 12.7.09

31. All amounts recorded in the general journal must have an ________________ ___________ written in the Account Title column.


32. What is Accumation, and for what does the acronym ABWA stand?

bellringer - 12.2.09

29. Are dollars and cents signs and decimal points used when writing amounts on ruled accounting paper? What might be used to separate the two?


30. List the four steps of the journalizing process.

bellringer - 11.30.09

27. In double-entry accounting, each transaction affects at least _____ ____________. What does the double-entry accounting system assure?



28. Which accounting concept is applied when a source document is prepared for each transaction? (hint: reading The Fountainhead would give you a clue to Ayn Rand's philosophy.)

bellringer - 11.23.09

25. What do you think Sandra should say about the journal to demonstrate that she knows it is important?



26. What specific improvements do you think Sandra should make?

bellringer - 11.19.09

23. What is the process of recording transactions in a journal called?



24. What is the Latin for journal? What does this literally mean?

bellringer - 11.17.09

21. Did you check you e-mail?



22. Have you completed what it asked you to do?

bellringer - 11.13.09

19 Debit is to asset as _____________ is to liability.

20 All of these are in normal balance except for

1. cash debit
2. capital credit
3. sales debit
4. accounts payable credit

bellringer - 11.11.09

17 How many questions are there to ask when analyzing a transaction?

18 List all four of these please.  :)

bellringer - 11.9.09

15. Paying cash for insurance and buying supplies for cash are examples of transactions that affect __________ ______ ________ of the accounting equation.

16. List the four questions that should be asked to analyze a transaction into its debit and credit parts.

bellringer - 11.5.09

13. What is the name of the program/website that allows us to create collaborative office documents?



14. Are you feeling more confident with you Pages skills?

bellringer - 11.3.09

11. What very important accounting document is given as an example on page 3?



12. For what does SBA stand?

bellringer - 10.31.09

9. A sale on account will cause a ____________ to the ____________ account and a _____________ to the _____________ account.

10. A purchase of supplies will cause a credit to the Accounts Payable account which is the ____________ _________________ of this account. Supplies will then have a ________________.

bellringer - 10.28.09

7. List at least four accounts that have a normal balance of a debit.



8.  A credit to Accounts Receivable would automatically cause a ______________ to the _____________ account.

bellringer - 10.26.09

5. A t account is divided into three major sections: the top line is used to write the ____________, the left side which is known as the ____________, and the right side which is known as the ____________.


6. Assets always have a normal balance as a _______________, while Liabilities always have a normal balance as a ______________.

bellringer - 10.22.09

3. What does the accounting term normal balance indicate?

4. Why are Owner's Equity t accounts somewhat abnormal?

bellringer - 10.20.09

1 What is a T-account, and how is it used?

2 Could you create several T-accounts on the computer? How would you do this?

bellringer - 10.6.09

39 Define the following words: cell, sail, sale, and sell. 

40 Which of the words listed above is synanomous to revenue?

BELLRINGERS ARE DUE TUESDAY! I'LL CALL YOU UP TO CHECK THEM IN CLASS!

bellringer - 9.30.09

37 Explain the difference between the accounts payable and the accounts receivable accounts. Do this by using one compound sentence, consisting of exactly eleven words.  

38 If an owner makes a cash withdrawal from the company for personal use, his person finances will _______________ and his equity in the business will ________________. 

bellringer - 9.28.09

35 Other than an investment, name three types of owner’s equity.

36 All revenue is known as ____________ income. All revenue minus all expenses is known as ____ income.

bellringer - 9.24.09

33 What is the difference between revenue and cash? Revenue and an Expense?

34 What do you get when you subtract expenses for revenues?

bellringer - 9.22.09

31 If someone were to write your business an IOU, which account would you use?

32 Cash sales are recorded as _____________________.

bellringer - 9.18.09

29 If Assets total $4,000 and Liabilities total $1,000, what must Owner’s Equity be?

30 Why is insurance listed as an asset? What account title do we use to denote this?

bellringer - 9.16.09

27 The balance sheet is considered a ________________ in time of how the business is performing.

28 The personal money used to open a companies accounts is known as the _____________ ___________________. Which two accounts does this transaction affect?

bellringer - 9.14.09

25 Which is the accounting document that shows all the accounts in balance?

26 What are the three account headings? What is the difference between an account heading and an account title?

bellringer - 9.10.09

23 What is the account title of the account we use to show insurance purchased in advance?

24 Which type of account is the aforementioned?

bellringer - 9.8.09

21 What happens to the cash account if we purchase supplies with cash?

22 If we open an account with a vendor (say Office Depot) to purchase supplies, what happens to both the supplies account and the accounts payable account?

bellringer - 9.3.09

19 How many service businesses did you include in your Paducah area business project? Of these, which type is most prevalent?

20 Which is your favorite service business in the Paducah area and why?

bellringer - 9.1.09

17 Why is it very important that accountants and business persons in general need to understand and adhere to proper business ethics?

18 How could cultural diversity play a role in a company’s success or failure?

bellringer - 8.28.09

15 Name at least three asset accounts.

16 For what does GAAP stand?

bellringer - 8.26.09

13 What is the accounting equation?

14 Why must it always be in balance?

bellringer - 8.24.09

11 If someone offered you a plan to begin establishing wealth and a way to keep it, would you take the time to read it?

Might you already have such a plan?

12 Which not so very famous at all (maybe one day) person’s birthday is today?

bellringer - 8.20.09

Thursday, August 20

9 Do you know how much you are worth (in terms of money)?

10 What do you think it means to be held accountable for something?

bellringer - 8.18.09

7 What type of computer program is NUMBERS?

8 How could you use such a program to track your finances and/or grades?

5 Have you ever used Quickbooks?

6 Rate yourself on a scale of 1 to 10 on your ability to do basic math.

bellringer - 8.12.09

3 Do you know (personally) someone who works in a field related to accounting?

4 Have you ever used a computer software program to keep track of money? If yes, which one?

bellringer - 8.10.09

1 Do you own a Mac/Apple?

2 Do you have Internet access at home?