Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
100
Planning, recording, analyzing, and interpreting financial information
What is accounting?
100
Financial rights to the assets of a business
What is equities?
100
An increase in owner’s equity resulting from the operation of a business
What is revenue?
100
An amount recorded on the left side of a T account.
What is debit?
100
A form for recording transactions in chronological order
What is a journal
200
A person, who plans, summarizes, analyzes, and interprets, accounting information.
What is accountant?
200
The amount remaining after the value of all liabilities is subtracted from the value of all assets
What is liability?
200
A decrease in owner’s equity resulting from the operation of a business
What is expense
200
An amount recorded on the right side of T account.
What is a credit?
200
A business form ordering a bank to pay cash from a bank account
What is a check?
300
Organized summaries of a business financial activities
What is accounting records?
300
A business activity that changes assets, liabilities, or owner’s equity
What is transaction?
300
Assets taken out of business for the owner’s personal use
What is expense?
300
An accounting device used to analyze transactions
What is a T account?
300
Determining that the amount of cash agrees with the accounting of records
What is proving cash?
400
A business selling accounting services to the general public
What is public accounting firm?
400
Anything of value that is owned
What is an asset?
400
Two accounts affected when cash is paid for supplies
What are cash and supplies?
400
Any amount received
What is debit?
400
A brief message is written describing a transaction
What is a memorandum?
500
A person who records, sorts, and files accounting information
What is accounting clerk?
500
The account used to summarize the owner’s equity in business
What is capital?
500
Rent is this kind of transaction
What is expense?
500
Any amount paid
What is a credit?
500
A business paper from which information is obtained for a journal entry
What is source document?
M
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