Ch 1
Ch 2
Ch 3
Ch 4
Ch 5
100
Planning, recording, analyzing, and interpreting financial information
What is acccounting
100
A business that performs 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 accoutning device used to analyze transactions
What is T account
100
A form for recording transactions in chronological order
What is a journal
200
A planned process for providing financial information that will be useful to management
What is an 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
Recording transactions in a journal
What is journalizing
300
A person who plans, summarizes, analyzes, and interprets accounting information
What is an accountant
300
Anything of value that is owned
What is asset
300
Assets taken out of a business for the owner's personal use
What is withdrawals
300
An amount recorded on the right side of a T account
What is credit
300
A journal amount column headed with an account title
What is special amount column
400
A person who does general accounting work plus some summarizing and analyzing of accounting information
What is bookkeeper
400
The amount remaining after the value of all liabilities is subtracted from the value of all assets
What is owner's equity
400
When cash is recieved from a sale, the total amount of assets and owners equity is..
What is increased
400
An account that reduces a related account on a financial statement
What is contra account
400
A journal amount column that is not headed with an account title
What is general amount column
500
A person who records, sorts, and files accounting information
What is an accounting clerk
500
A business activity that changes assets, liabilities, or owner's equity
What is transaction
500
How many sides does the accounting equation have
What is two
500
The total amounts on the left side of the accounting equation must equal the amounts on this side
What is right side
500
Information for each transaction recorded in a journal
What is entry
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