CH.1
CH.2
CH.3
CH.4
CH.5
100
Planning, recording, analyzing, and interpreting financial information
What is Accounting
100
Assets are on what side of the equation?
What is Left Side
100
An increase in owner's equity resulting from the operation of a business is called
What is Revenue
100
An accounting device used to analyze transactions
What is T account
100
A form for recording transactions in chronological order
What is Journal
200
Organized summaries of a business' financial activities
What is Accounting Records
200
What side are Liabilities on?
What is Right Side
200
A decrease in owner's equity resulting from the operation of a business
What is Expense
200
An amount recorded on the left side of a T account
What is Debit
200
A business form given written acknowledgement for cash received
What is Receipt
300
A person who plans, summarizes, analyzes, and interprets accounting information
What is Accountant
300
What is the accounting equation
What is Assets= Liabilities + Owner Equity
300
Assets taken out of a business for the owner's personal use
What is Withdrawals
300
An amount recorded on the right side of the T account
What is Credit
300
A form on which a brief message is written describing a transaction
What is Memorandum
400
A person who does general accounting work plus some summarizing and analyzing of accounting information
What is Bookkeeper
400
What part of the accounting equation does CASH go under
What is Assets
400
Paid cash for telephone bill. What are the two accounts used?
What is Cash and Utilities expense
400
An account that reduces a related account on a financial statement
What is Contra Account
400
Paid cash for supplies. What account is debited and which one is credited?
What is Cash=Credit and Supplies=Debit
500
A person who records, sorts, and files accounting information
What is Accounting Clerk
500
When does a double line go under both amount columns
What is Equal
500
Paid cash to owner (Ben Furman) for personal use. What are the two accounts used?
What is Cash and Ben Furman, Drawing
500
For owner's capital what side is the normal balance on
What is Credit
500
Paid cash for rent. What account is debited and which one is credited?
What is Cash=Credit and Rent Expense=Debit
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