Quick Accounting Review

The Language of Business

• Communication

• Accounting

• Auditing

• Bookeeping

Assets = _________ + Owner's Equity

• Negative Worth

• Resources

• Obligations

• Liabilities

This paper will be used to prepare ____.

• Journal

• Worksheet

• Ledger

• Receipt

He is the father of Accounting.

• Nicolas Petri

• Luca Pacioli

Debit Cash for P1,000 will

• add Cash P1,000

• deduct Cash P1,000

• Either add or deduct P1,000

• No Effect to Cash

Done after journalizing

• Balance Sheet

• Worksheet

• Trial Balance

• Posting

End products of Accounting

• Financial Statements

• Journal

• Ledger

• Worksheet

Which is not a Financial Statement?

• Balance Sheet

• Income Statement

• Statement of Changes in Owner's Equity

• Worksheet

My FABM2 professor is ______.

(Use all capital Letters)

What grade I'm aiming for FABM2?

• 95 and above

• 90-94

• 85-89

• 81-84

• 75-80