Cash
Terms
Terms
Accounting Equation
Transactions
100
Is considered a what in the accounting equation?
What is an asset?
100
The amount in an account.
What is account balance?
100
Name given to an account.
What is account title?
100
Accounting equation.
What is assets=liabilities+ owner's equity
100
An event that changes either an increase of decrease in an account.
What is a transaction?
200
Increases on what side.
What is debit?
200
An accounting device used to analyze transactions.
What is a T-account?
200
The side of the account that is increased is called what.
What is normal balance?
200
Something owned by a company.
What is an asset?
200
left side of a transaction.
What is debit?
300
Has a normal balance on what side.
What is debit
300
A list of accounts used by a business.
What is chart of accounts?
300
A form for recording transactions in chronological order.
What is a journal?
300
Something owed by a company.
What is a liability?
300
increasing side of a liability.
What is the credit side?
400
A credit to cash indicates the cash balance has done this.
What is a decrease?
400
Recording transactions in a journal.
What is journalizing?
400
Income earned from the sale of goods or services.
What is revenue?
400
What is left after anything owed is taken from anything owned.
What is owner's equity?
400
Money used for personal use by the owner.
What is a withdrawal?
500
When you pay and expense, you record half of an entry to the cash account.
What is a credit?
500
A journal with two amount columns in which all kinds of entries can be recorded.
What is a general journal?
500
The recording of debit and credit parts of a transaction.
What is double entry accounting?
500
The most liquid asset of all.
What is cash?
500
The price paid for goods and services used to operate a business.
What is an expense?
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