is a formal record of the financial activities of a business, person, or other entity.
What is a financial statement
100
Entries made at the end of the account period
What is adjusting entries
100
The process of transferring entries from a journal of original entry to a ledger book.
What is posting
100
Analyzing transactions
What is first step of Account Cycle
100
A bank account from which payments can be ordered by a depositor
What is Checking Account
200
statement of financial positioning
What is one basic statement?
200
are dated as of the last day of the accounting period, but they are entered into the accounts after the financial statements are prepared
What is closing entries
200
Postings take place between the general journal and the general ledger
What is where does posting occur at?
200
Prepare post closing trial balance
What is last step of accounting cycle
200
A report of deposits, withdrawals, and bank balances sent to a depositor by a bank
What is Bank Statement
300
statement of comprehensive income, it deals with all of the profits and losses
What is the most important statement?
300
closing entries involve the income statement accounts
What is what do closing entries mainly involve?
300
Journalize
What is second step of account cycle
300
A check that a bank refuses to pay
What is dishonored check
400
is to provide information about the financial position, performance and changes in financial position of an enterprise that is useful to a wide range of users in making economic decisions
What is the objective of a financial statement?
400
Adjusting entries keep a company’s accounting records and financial statements to be up-to-date on the accrual basis of accounting
What is which entry keeps a business up to date?
400
Debit and Credit
What is which two values are you posting for?
400
The name given to the collective process of recording and processing the accounting events of a company.
What is accounting cycle
400
A bank card that automatically deducts the amount of the purchase from the checking account of the card holder
What is debit card
500
tend to be simpler than those of for-profit corporations
What is are statements easier for profit or nonprofit organizations?
500
not always
What is are income summaries always needed with these entries?
500
on paper, or on a computer
What is which two ways can posting be done?
500
nine or ten
What is the average number of steps in an accounting cycle?