Ch1
Ch 2
Ch 3
Ch 4
Ch 5
100
Planning, recording, analyzing, and interpreting financial information
What is Accounting
100
A business that performs an activity for a fee
What is service business
100
Increase in owner’s equity resulting from the operation of a business
What is revenue
100
Accounting device used to analyze transactions
What is a T account
100
A form for recording transactions in chronological order
What is a journal
200
Planned process for providing financial information that will be useful to management
Accounting System
200
A business owned by one person
What is a proprietorship
200
A decrease in the owner’s equity resulting from the operation of a business
What is expense
200
Amount recorded on the left side of a T account
What is debit
200
Recording transactions in a journal
What is journalizing
300
Organized summaries of a business’ financial activities
What is Accounting Records
300
Financial rights to the assets of a business
What is equities
300
Assets taken out of a business for the owner’s personal use
What is withdrawals
300
Amount recorded on the right side of a T account
What is credit
300
Journal amount column headed with an account title
What is a special amount column
400
A person who does general accounting work plus some summarizing and analyzing of accounting information
What is a Bookkeeper
400
A financial statement that reports assets, liabilities, and owner’s equity on a specific date
What is a balance sheet
400
Accounts where revenue is added
What is Assets and Owner's Equity
400
A list of accounts used by a business
What is a chart of accounts
400
A business form giving written acknowledgement for cash received
What is a receipt
500
The principles of right and wrong that guide an individual in making decisions
What is Ethics
500
A record summarizing all of the information pertaining to a single item in the accounting equation
What is Account
500
Accounts where expenses are subtracted
What is Assets and Owner’s Equity
500
Account that reduces a related account on a financial statement
What is a Contra account
500
A form on which a brief message is written describing a transaction
What is memorandum
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