Ch 1
Ch 2
Ch 3
Ch 4
Ch 5
100
Planning, recording, analyzing, and interpreting financial information
What is Accounting?
100
A business that preforms an activity for a fee
What is Service Business?
100
An increase in owner’s equity resulting from the operation of a 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 planned process for providing financial information that will be useful to management
What is Accounting System?
200
A business owned by one person
What is Proprietorship?
200
A decrease in owner’s equity resulting from the operation of a 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 Coulmn?
300
Organized summaries of a business’ financial activities
What is Accounting Records
300
Anything of value that is owned
What is Asset?
300
Asset taken out of a business for the owner’s personal use
What is Withdrawals?
300
An amount recorded on the left side of a T account
What is Credit?
300
Information for each transaction recorded in a journal
What is an Entry?
400
A person who plans, summarizes, analyzes, and interprets accounting information
What is Accountant?
400
Financial rights to the assets of a business
What is Equities?
400
Changes the account balances of two or more accounts.
What is Transaction?
400
A list of accounts used by a business
What is Chart of Accounts?
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
An amount owed by a business
What is Liability?
500
The new balances of an accounting equation are used to prepare this.
What is Balance Sheet?
500
An account that reduces a related account on a financial statement
What is Contra Account?
500
A business form giving written acknowledgement for cash received
What is Receipt?
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