Ch1
Ch2
Ch3
Ch4
Ch5
100
Organized summary of a business’ financial activities
What is Accounting records
100
The name given to an account
What is Account title
100
An increase in owners’ equity resulting from the operation of a business is called
What is Revenue
100
Recorded on the left side of a T account
What is debit
100
A form for recording transactions in chronological order
What is jorunal
200
A person who records, sorts, and files accounting info
What is Accounting clerk
200
Anything of value owned
What is Asset
200
What is prepared by a business on the last day of every month?
what is Balance sheet
200
Amount recorded on the right side of a T account
What is credit
200
Recording transactions in a journal
What is Journalizing
300
An accountant who is employed by a single business
What is Private accountant
300
Financial rights to the assets of a business
What is Equities
300
A transaction for the sale of goods or services results in an increase in what?
What is Owners’ equity
300
The basic device used to analyze the effect of transactions on accounts
What is T account
300
A business paper from which info is obtained for a journal entry
What is Source document
400
A person who plans, summarizes, analyzes, and interprets accounting info
What is Accountant
400
Amount owed y a business
What is Liability
400
Assets taken out of a business for the owners’ personal use are called what?
What is Withdrawals
400
How is each account balance changed
What is Cash is decreased supplies increased
400
The recording of debit and credit parts of a transaction
What is Double entry accounting
500
A business selling accounting services to other business
What is Public accounting firm
500
The amount in an account
What is Account balance
500
Heading on the left side of a balance sheet
What is Assets
500
What accounts are affected
What is cash and supplies
500
A brief message is written describing a transaction
What is Memorandum
M
e
n
u