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 performs an activity for a fee
What is A 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 a journal
200
A business selling account services to the general public
What is public accounting firm
200
Financial rights to the assets of a business
What is equitites
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 does general accounting work plus some summarizing and analyzing of accounting information
What is bookkeeper
300
An amount owed by a business
What is liability
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 records, sorts, and files accounting information
What is accounting clerk
400
An equation showing the relationship among assets, liabilities, and owner’s equity
What is the accounting equation
400
When cash is received from a sale, the total amount of assets and owner’s 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 gerneal amount column
500
The principles of right and wrong that guide an individual in making decisions
What is ethics
500
A business activity that changes assets, liabilities, or owner’s equity
What is transaction
500
A withdrawal decreases
What is owner's equity
500
The total of amounts on the left side of the accounting equation must always equal the total amounts of this side
What is the right side
500
Information for each transaction recorded in a journal
What is entry
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