Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
100
Organized summaries of a business' financial activities
What is accounting records?
100
a business activity that changes assets, liabilities, or owner's equity
What is transaction?
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
journal amount column headed with an account title
What is special amount column?
200
a person who plans, summarizes, analyzes, an interprets accounting information
What is accountant?
200
a record summarizing all the information pertaining to a single item in the accounting information
What is account?
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 that is not headed with an account title
What is general amount column?
300
The principles of right and wrong that guide an individual in making decisions
What is ethics?
300
the name given to an account
What is account title?
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
information for each transaction recorded in a journal
What is entry?
400
a business selling accounting services to the general public
What is public accounting firm?
400
a financial statement that reports assets, liabilities, and owner's equity on a specific date
What is balance sheet?
400
cash is received from sales; the two accounts affected are cash and ____
What is owner's equity?
400
a list of accounts used by a business
What is chart of accounts?
400
the recording of debit and credit parts of a transaction
What is double-entry accounting?
500
an accountant who is employed by a single business
What is private accountant?
500
Assets= Liabilities + Owner's Equity
What is accounting equation?
500
paid cash for insurance; the two accounts affected are cash and _____
What is prepaid insurance?
500
an account that reduces a related account on a financial statement
What is contra account?
500
a business paper from which information is obtained for a journal entry
What is source document?
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