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    Family Feud Fa Accounting Cycle

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    Josephine Ocampo
    The document describes the accounting cycle in 4 rounds: Round 1 lists assets including cash, inventory, PP&E, and accounts receivable. Round 2 describes stockholder's equity accounts such as common stock, paid-in capital, retained earnings, and treasury stock. Round 3 lists revenues, expenses, and dividends. Round 4 outlines the steps of the accounting cycle including transactions, adjusting entries, an unadjusted trial balance, an adjusted trial balance, financial statements, and a post-closing trial balance.

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    Family Feud Fa Accounting Cycle

    Uploaded by

    Josephine Ocampo
    94 views7 pages
    The document describes the accounting cycle in 4 rounds: Round 1 lists assets including cash, inventory, PP&E, and accounts receivable. Round 2 describes stockholder's equity accounts such as common stock, paid-in capital, retained earnings, and treasury stock. Round 3 lists revenues, expenses, and dividends. Round 4 outlines the steps of the accounting cycle including transactions, adjusting entries, an unadjusted trial balance, an adjusted trial balance, financial statements, and a post-closing trial balance.

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    The document describes the accounting cycle in 4 rounds: Round 1 lists assets including cash, inventory, PP&E, and accounts receivable. Round 2 describes stockholder's equity accounts such as common stock, paid-in capital, retained earnings, and treasury stock. Round 3 lists revenues, expenses, and dividends. Round 4 outlines the steps of the accounting cycle including transactions, adjusting entries, an unadjusted trial balance, an adjusted trial balance, financial statements, and a post-closing trial balance.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    94 views7 pages

    Family Feud Fa Accounting Cycle

    Uploaded by

    Josephine Ocampo
    The document describes the accounting cycle in 4 rounds: Round 1 lists assets including cash, inventory, PP&E, and accounts receivable. Round 2 describes stockholder's equity accounts such as common stock, paid-in capital, retained earnings, and treasury stock. Round 3 lists revenues, expenses, and dividends. Round 4 outlines the steps of the accounting cycle including transactions, adjusting entries, an unadjusted trial balance, an adjusted trial balance, financial statements, and a post-closing trial balance.

    Copyright:

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    of 7

    Topic: Accounting Cycle

    Round 1

    Cash 50 Investments 8

    Inventory 12 Intangible assets 6

    PP&E 11 Natural resources 3

    Accounts receivable 10

    Win Lose Cheer Boo Silence


    Round 2

    Common stock 50 Add paid-in cap 2

    Retained earnings 25

    Preferred stock 15

    Treasury stock 8

    Win Lose Cheer Boo Silence


    Round 3

    Revenues 40

    Expenses 35

    Dividends 25

    Win Lose Cheer Boo Silence


    Round 4

    Transactions 27 Adj trial balance 9

    Post entries 20 Financial stmts 8

    Unadj trial bal 15 Closing entries 6

    Adjusting entries 11 Post-closing tb 4

    Win Lose Cheer Boo Silence


    Player 1 Fast Money 0:01
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    1:00
    End
    How many can you get right in 1 minute?

    1. Unearned
    Question
    revenue1is a + x 6. Fin stmt
    Question
    as of one6date + x

    2. Assets
    Question
    = Liabs + Equity
    2 + x 7. Accum
    Question
    depreciation
    7 is a + x

    3. List ofQuestion
    accounts & balances
    3 + x 8. Revenues
    Question
    - expenses
    8 + x

    4. Amounts owed to suppliers


    Question 4 + x 9. 3 types
    Question
    of cash flows
    9 + x

    5. CloseQuestion
    revenues to:
    5 + x 10. Amounts customers
    Question 10owe you + x

    Win Lose Cheer Boo Silence


    Player 2 Fast Money 0:01
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    0:53
    0:54
    0:55
    0:56
    0:57
    0:58
    0:59
    1:00
    End
    How many can you get right in 1 minute?

    1. Unearned
    Question
    revenue1is a + x 6. Fin stmt
    Question
    as of one6date + x

    2. Assets
    Question
    = Liabs + Equity
    2 + x 7. Accum
    Question
    depreciation
    7 is a + x

    3. List ofQuestion
    accounts & balances
    3 + x 8. Revenues
    Question
    - expenses
    8 + x

    4. Amounts owed to suppliers


    Question 4 + x 9. 3 types
    Question
    of cash flows
    9 + x

    5. CloseQuestion
    revenues to:
    5 + x 10. Amounts customers
    Question 10owe you + x

    Win Lose Cheer Boo Silence

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