Intuit Academy Bookkeeping ||\\||\\ ||\\||\\ ||\\||\\
Professional Certificate Bookkeeping ||\\||\\ ||\\||\\ ||\\||\\
Basics exam with correct answers ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
The Accounting Principle - correct answers✔✔You can't mix
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
business and personal assets or expenses. ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Accounting Equation - correct answers✔✔Assets = Liabilities + ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Owner's Equity ||\\||\\
||\\||\\ or
Assets - Liabilities = Owner's Equity
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Expanded Accounting Equation - correct answers✔✔Assets = ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Liabilities + Equity + Revenue - Expenses - Dividends ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
The Five Account Types - correct answers✔✔Assets, Liabilities,
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Equity, Revenue, Expenses ||\\||\\ ||\\||\\
, Normal balance of the five account types - correct
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
answers✔✔Assets- Normal Dr balance ||\\||\\ ||\\||\\ ||\\||\\
Expenses- Normal Dr balance ||\\||\\ ||\\||\\ ||\\||\\
Dividends- Normal Dr balance ||\\||\\ ||\\||\\ ||\\||\\
Equity- Normal Cr balance ||\\||\\ ||\\||\\ ||\\||\\
Revenue- Normal Cr balance ||\\||\\ ||\\||\\ ||\\||\\
General Journal - correct answers✔✔A list of transactions
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
organized chronologically ||\\||\\
Posting to the Ledger - correct answers✔✔transfer transactions
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
entered in the journal to the general ledger and categorize
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
transactions by account ||\\||\\ ||\\||\\
Accounting Cycle - correct answers✔✔a collective process of ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
identifying, analyzing, and recording the accounting events of a ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
company
Steps in the Accounting Cycle - correct answers✔✔1. Collect,
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
analyze, and post transactions to the Journal ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
2. Post transactions to the ledger
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Professional Certificate Bookkeeping ||\\||\\ ||\\||\\ ||\\||\\
Basics exam with correct answers ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
The Accounting Principle - correct answers✔✔You can't mix
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
business and personal assets or expenses. ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Accounting Equation - correct answers✔✔Assets = Liabilities + ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Owner's Equity ||\\||\\
||\\||\\ or
Assets - Liabilities = Owner's Equity
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Expanded Accounting Equation - correct answers✔✔Assets = ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Liabilities + Equity + Revenue - Expenses - Dividends ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
The Five Account Types - correct answers✔✔Assets, Liabilities,
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Equity, Revenue, Expenses ||\\||\\ ||\\||\\
, Normal balance of the five account types - correct
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
answers✔✔Assets- Normal Dr balance ||\\||\\ ||\\||\\ ||\\||\\
Expenses- Normal Dr balance ||\\||\\ ||\\||\\ ||\\||\\
Dividends- Normal Dr balance ||\\||\\ ||\\||\\ ||\\||\\
Equity- Normal Cr balance ||\\||\\ ||\\||\\ ||\\||\\
Revenue- Normal Cr balance ||\\||\\ ||\\||\\ ||\\||\\
General Journal - correct answers✔✔A list of transactions
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
organized chronologically ||\\||\\
Posting to the Ledger - correct answers✔✔transfer transactions
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
entered in the journal to the general ledger and categorize
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
transactions by account ||\\||\\ ||\\||\\
Accounting Cycle - correct answers✔✔a collective process of ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
identifying, analyzing, and recording the accounting events of a ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
company
Steps in the Accounting Cycle - correct answers✔✔1. Collect,
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
analyze, and post transactions to the Journal ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
2. Post transactions to the ledger
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
