Chapter 1
What side of the T account is a CREDIT on
What is right
a form for recording transactions in chronological order
What is a journal
the account number for cash is this.
What is 110
the words written on the back of a check with a restrictive endorsement.
What is "for deposit only to the account of..."
normal balance of an asset
What is debit
in order to have a debit, you also need this.
What is a credit
this goes in the post reference column on a journal after posting to a general ledger
What is an account number
the words written on the back of a check with a special endorsement
What is "pay to the order of..."
the amount remaining after the value of all liabilities is subtracted by the value of all assets
What is owners equity
the type of account that supplies is
What is an asset
if an owner deposits money into the business, you would debit cash and credit this account
What is owner, Capital
this goes in the post reference of a general ledger
What is the journal page number
a report of deposits, withdrawals, and bank balances sent to a depositor by a bank
What is a bank statement
normal balance of an expense
What is a debit
the normal balance of accounts payable is this.
What is credit
to open a petty cash account, you would credit cash and debit this
What is petty cash
assets taken from the business for the owner's personal use
What is withdrawals
normal balance of the owner's drawing account
What is a debit
prepaid insurance is this type of account
What is asset
this symbol signifies that each entry is NOT posted individually, but collectively at the end of the month.
What is a check mark
the normal balance of petty cash is this
What is debit