bellringer - 5.16.11

33. When supplies are bought on account, an ________ is received from the ______.



34. CFO stands for ________?

bellringer - 5.10.11

31. The two assets generally taken out of a merchandising business are ____ and ___________.



32. Please list three European colonial powers which have influenced accounting in Africa in different ways.

bellringer - 5.6.11

29. According to John Chuang, accounting is like ________________________________________.



30. What do most banks require before they will consider lending money to hopeful small business owners? What might such a plan include?

bellringer - 5.4.11

27. What is the primary difference between a retail merchandising business and a wholesale merchandising business?



28. What is the difference between a vendor and a customer?

bellringer - 5.2.11

25. Using __________ ____________ to record transactions is a type of batching process. All like transactions go in one journal.



26. In Chapter 10, we will have 5 different journals. The General Journal is one of those. Please list the other 4.

bellringer - 4.28.11

23. What is a partnership? What type of business have we been learning about in chapter 1-9?



24. From a business perspective, what exactly is a purchase?

bellringer - 4.26.11

21. The word post means _____, and thus, the Post Closing Trial Balance is prepared _____ closing entries.



22. At the end of the month in March (March 31), if current Capital (capital on the Post Closing Trial Balance) is $11,500 and Net Income is $1,500, then what are the values for the following?

Ending Balance of Revenue -
Ending Balance of Supplies Expense -
Ending Balance of Insurance Expense -
Ending Balance of Drawings -
Balance of Income Summary before it is closed -
Ending Balance of Income Summary -
Balance of Capital before any closing entries - 

bellringer - 4.22.11

19. There are three types of accounts listed on the Post-Closing Trial Balance. Please name them.



20. The Capital account  amount which appears on the Post-Closing Trial Balance is calculated by using which formula? (In other words, how do you calculate Capital for the Post-Closing Trial Balance?

bellringer - 4.20.11

17. Please list the eight parts of the Accounting Cycle (p. 208).



18. With your MacBook Dictionary, look up, read, copy, and paste the definition of Game Theory below.

bellringer - 4.18.11

15. Why do most small businesses use the calendar year as their fiscal year?



16. To what can closing entries be compared?

bellringer - 4.14.11

13. What are the two types of entries we will be making into the General Journal in Chapter 9?



14. What is the system used to record journal entries (even adjusting and closing entries)?

bellringer - 4.12.11

11. What are the two adjusting entries that Encore Music records?



12. On page 195, please read the Professional Business Ethics section. Do you feel this example was one of discrimination or poor judgment?

bellringer - 4.1.11

9. What differences are there in the balance sheet we have learned about and those which are submitted to the Securities and Exchange Commission (SEC) by corporations that trade its stock on a U.S. stock exchange?



10. Please use the CC = CB + NI - D formula to calculate the problem below given this information: Current Capital = today's date, = is, Revenue = Aprillena, Expense = lena, Drawings = Fool's!

bellringer - 3.30.11

7. The following formula is used to calculate what?  = capital balance +/- net income/loss - drawings



8. Calculate current capital given the following: capital balance = $10,000, total expenses + $500, component percentage of total expenses = 75%, and drawings = $1,000. 

bellringer - 3.28.11

5. fiscal period :: financial statements : end of 9-weeks :: ________________
cash :: grades : revenue :: ___________



6. What was the component percentage of each of your grades in terms of numerical score and GPA score?

bellringer - 3.24.11

3. What are the formulas for calculating component percentage?


4. What is the division symbol used in Numbers?

bellringer - 3.22.11

1. For this bellringer, you simply need to create your bellringer 4 document, which is to be used for the 4th 9-weeks.


2. After completing the worksheet, an accountant will use the information from the sheet to create the _______________ ________________ and the _______________ __________.

End of 3rd 9-Weeks

This marks the end of the 3rd 9-weeks. We have one more to go!

bellringer - 3.16.11

45. Which two financial statements does the worksheet assist you to properly prepare?



46. This is the last bellringer for the 3rd 9-weeks. You simply need to copy it to your document. Then you need to DROP YOUR BELLRINGERS TO ME. Please use the LAST, FIRST - BELLRINGERS 3 method to do so.

bellringer - 3.14.11

43. In Accounting, what is considered a calendar year?



44. What is a natural business year?

bellringer - 3.10.11

41. Please list the first two types of errors that can occur when preparing a worksheet (page 164).




42. Please list the second two types of errors that can occur when preparing a worksheet (page 164).

bellringer - 3.8.11

39. For which two accounts must we make adjustments in this chapter?



40. Since both of the above accounts must be deducted, and thus credited, what are the names of the two corresponding accounts which are debited?

bellringer - 3.4.11

37. When visiting another room, person, business, etc. on a field trip you should be on your _______ _______ ____________. This might include: being relatively silent to and from the location, being attentive (mentally and physically) to your speaker, raising your hand when you have a question or would like to comment, using sir or mam when addressing the speaker, and thanking the speaker for their time.

38. Could you discuss malpractice liability of accountants with your classmates? If not, you should be able to do so after reading page D (just before 161) in your textbook. Please do so now and be prepared for such a discussion shortly.   

bellringer - 3.2.11

35. What is the concept known as when after adjustments are made, the expenses incurred to earn revenue are reported in the same fiscal period as the revenue is earned and reported?



36. The ending balance of the asset account, Supplies, should represent the amount of supplies ______________________ at the end of the fiscal period. The amount of supplies used during the period should be recorded in the expense account, _________________.

bellringer - 2.28.11

33. What is the formula for finding the value of supplies used?



34. Briefly list the steps for proving the Adjustments of a work sheet.

bellringer - 2.24.11

31. Hypothetically speaking, a lawyer in a balance trial would have to show proof of the ___________ of debits and credits in order to win the case.



32. The accounting concept which is applied when revenue from business activities and expenses associated with earning that revenue are recorded in the same accounting period is known as _____________ _____________ _____ ____________.

bellringer - 2.22.11

29. Please name the two major systems of measurement in the world.



30. In your opinion, which system is better? Why do you believe this to be the case?

bellringer - 2.18.11

27. What does the term fiscal mean?



28. What is a work sheet in accounting?

bellringer - 2.16.11

25-26. The four primary types of bullies are:

1)    Aggressive bullies – the most common type, generally belligerent, fearless, coercive, confident, tough, and impulsive.

2)    Passive bullies – rarely provoke others or take the initiative in a bullying incident but join in after an aggressive bully instigates a situation in an attempt to gain his/her approval.

3)    Bully-victims – victims of bullying who resort to bullying others out of frustration with the bullying they endure.

4)    Relational bullies – the most common type of bully among girls, but not limited to females, these bullies try to gain social status and power through exclusion and manipulation of others.

Read the following statement: bullying is an abuse of power intended to hurt or humiliate another person—3 things to remember:  it is purposeful, imbalanced, and continual.  Using the four primary types of bullies discussed during 1^st block, list ways that each of the types of bullying behavior is purposeful, imbalanced, and continual.

bellringer - 2.14.11

23. In Numbers and Excel, a data stream of A17 would give you three pieces of information. The ________ location, the ________________, and the ______.



24. In a SUM formula of =SUM(B24:B36), B24:B36 represents a ___________ of cells to be added together.

bellringer - 2.4.11

21. Which of these is not considered the same as the cash account in accounting?

a) Check  b) Debit Card Transaction  c) EFT  d) Petty Cash

22. Please name two electronic spreadsheet programs (one of which we have used).

bellringer - 2.2.11

19. How might you construct a petty cash fund for your own personal use at home?



20. If the world were overrun by groundhogs--for they've been busy scheming while bunkered down in their holes for the many years of long winters--might they look do away with the study of meteorology and replace it with the reading of their own shadows in order to predict the coming of spring and other weather related events? Can you come up with a similar abortive system for controlling cash flow? 

bellringer - 1.31.11

17. Please name two types of errors that might occur with cash control systems (answers can be found in Explore Accounting, p. 139)?



18. Please locate and bookmark Market Place and Market Place Morning Report.

bellringer - 1.27.11

15. What is the credit entry for a dishonored check, electronic funds transfer, debit card transaction, and establishing a petty cash fund?



16. What are the debit entries for each of the transactions listed above?

bellringer - 1.21.11

13. What is a bank service charge? Can you name at least two reasons for which someone might encrue a bank service charge?



14. What is the source document for a bank service charge transaction?

bellringer - 1.19.11

11. Bank deposits are generally covered up to ________________ per depositor by the _________.



12. A postdated check is a check written with a _____________ date.

bellringer - 1.14.11

9. What does the term "control" mean?



10. Why is it important to have systems in place to control cash?

bellringer - 1.12.11

7. A correcting entry is made within which accounting document?



8. What does Cost of Goods Sold mean?

bellringer - 1.10.11

5. Listen to the article about tonight's BCS game.



6. How much is an average ticket price to the game? Approximately, how much money is made each year in the secondary ticket market?

bellringer - 1.6.11

3. Each company designs its chart of accounts to _______________________________________.



4. True or False     When setting up a chart of accounts, a company does not have to use a straight series of numbers.

bellringer - 1.3.10

1. Which civilization is credited for inventing coined money?



2. When does Encore Music always prove cash?