Ch 1
Ch 2
Ch 3
Ch 4
Ch 5
100
Planning, recording, analyzing, and interpreting financial information.
What is Accounting?
100
Anything of value that is owned
What is assets
100
An increase in owner's equity resulting from the operation of business
What is revenue
100
An accounting device used to analyze transactions
What is T account.
100
A form for recording transactions in chronological order
What is journal
200
A person who plans, summarizes, analyzes, and interprets accounting information.
What is an Accountant
200
An amount owed by a business
What is liability.
200
A decrease in owner's equity resulting from the operation of business
What is expense
200
An amount recorded on the left side of a T account
What is debit
200
A journal amount column headed with an account title
What is special amount column
300
A planned process for providing financial information that will be useful to management.
What is accounting system.
300
A business activity that changes assets, liabilities, or owner's equity
What is transaction
300
Public goods and services such as a telephone bill.
What is utilities
300
An amount recorded on the right side of a T account
What is credit
300
A journal amount column that is not headed with an account title
What is general account column
400
organized summaries of a business' financial activities
What is accounting records
400
An equation showing the relationship among assets, liabilities, and owner's equity
What is the accounting equation
400
Assets taken out of a business for the owner's personal use
What is withdrawals
400
An account that reduces a related account on a financial statment
What is contra account
400
A business form ordering a bank to pay cash from a bank account
What is check
500
A person who does general accounting work plus some summarizing and analyzing of accounting information
What is bookkeeper
500
A record summarizing all the information pertaining to a single item in the accounting equation
What is an account
500
Both of these transactions decrease owner's equity.
What is withdrawals and expenses
500
A list of accounts used by business
What is chart of accounts
500
A business form giving written acknowledgement for cash recieved
What is receipt
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