Accounting
The accounting equation
What is my last name?
Boise
information for each transaction recorded in a journal?
Entry
Cash
Asset
Received Cash from owner as an investment
Cash, Capital
What is a Debit?
The Left Side
What is my daughter's name?
Wrenley
The recording of debit and credit parts of a transaction
double - entry accounting
Account Payable
Liability
Paid cash for supplies
cash, supplies
What is a credit?
The Right Side
What does my wife do for a living?
Labor and delivery nurse
a business form giving written acknowledgement for cash received
receipt
capital
owner's equity
withdrew cash for personal use
cash, withdrawals
Normal balance for Assets
Debit side
What are my two favorite sport teams?
Chiefs and Missouri Tigers
a form for recording transactions in chronolgical order
journal
sales
owner's equity
bought supplies on account from supply mart
supplies, accounts payable
Asset
What is my favorite vacation hobby?
Skiing
a business paper from which information is obtained for a journal entry
source document
withdrawls
owner's equity
sold services on account to Mr. Boise