Aspects of A Balance Sheet
Bank
Investments
Book Keeping
Types of Books
100
A=L+OE
What is the fundamental equation?
100
Creditor
Who is someone who is owned money by the business?
100
Common Stock
What is a corporation’s basic class of stock?
100
Revenue
What is an increase in equity resulting from the proceeds of the sale of goods or services?
100
General Ledger
What is a book or file containing all the accounts of the business?
200
Liability
What is a debt of an individual, business, or other organisation?
200
Cash Refund
What is the money given when a product is returned?
200
Common Shareholder
What is the controlling owners of a corporation?
200
Two-Column General Journal
What is a simple journal with two money columns, one for the debit amounts and one for the credit amounts?
200
Journal
What is a specially ruled book in which accounting entries are recorded in the order in which they occur?
300
Net Worth
What is the difference between the total assets and total liabilities of a business?
300
Deficit
What is the debit balance; a business loss?
300
Fiscal Period
What is the period of time over which earnings are measured?
300
Transposition Error
What is a mistake cause by the interchanging of digits when transferring figures from one place to another?
300
Payroll Register
What is a columnar page on which the details of individuals net pay is recorded?
400
Fiscal Period
The period of time over which earnings are measured?
400
Float
What is a small amount of bill and coins used to make change?
400
Dividend
What is the amount paid to shareholders out of the company’s profits?
400
Receipt on Account
What is the money received from a debtor to reduce the balance owed by that debtor?
400
Pin Totals
What is tiny pencil-figure totals used in accounts and journals?
500
Harmonized Sales Tax
What is a tax where the province collects the provincial sales tax and the federal goods and services tax?
500
Cash Short or Over
What is the amount of money by which the business’ cash receipts for a day are more or less then what they should be?
500
Preferred Stock
What is shares in a corporation that have a special privilege for first payment of dividends?
500
Multi-colummar Journal
What is a journal containing a number of columns in which items of a similar nature are grouped during the recording phase?
500
Subsidiary Ledger
What is a separate ledger that contains a number of accounts of a similar type, such as the accounts receivable ledger on the accounts payable ledger?
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