Ch 1
Ch 2
Ch 3
Ch 4
Ch 5
100
A person who does general accounting work plus some summarizing and analyzing of accounting information.
What is a bookkeeper?
100
Anything of value that is owned.
What are assets?
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 a T account?
100
A business form ordering a bank to pay cash from a bank account.
What is a check?
200
A person who records, sorts, and files accounting information.
What is an accounting clerk?
200
Financial rights to the assets of a business.
What are equities?
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 form for recording transactions in chronological order.
What is a journal?
300
Planning, recording, analyzing, and interpreting financial information.
What is accounting?
300
An amount owed by a business.
What is liability?
300
Asset taken out of a business for the owner’s personal use
What are withdrawals?
300
An amount recorded on the right side of a T account.
What is credit?
300
Recording transactions in a journal.
What is journalizing?
400
A person who plans, summarizes, analyzes, and interprets accounting information.
What is an accountant?
400
The amount reaming after the value of all liabilities is subtracted from the value of all assets.
What is Owner’s Equity
400
Asset normally withdrawn by an owner for personal use.
What is cash?
400
A list of accounts used by a business.
What are chart of accounts?
400
Information for each transaction recorded in a journal entry.
What is an entry?
500
The principles of right and wrong that guide an individual in making decisions.
What is ethics?
500
The account used to summarize the owner’s equity in the business.
What is Capital?
500
Accounts affected when cash is received from sales.
What is Cash and Owner’s Equity?
500
An account that reduces a related account on a financial statement.
What are contra account?
500
A business form giving written acknowledgement for cash received.
What is a receipt?
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