Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
100
Planning, recording, analyzing, and interpreting financial information
What is accounting
100
a business activity changes assets, liabilities, or owner's equity
What is a transaction
100
an increase in owner's equity resulting from the operation of a business
What is a revenue
100
an accounting device used to analyze transactions
What is a T-account
100
a form of recording transactions in chronological order
What is a journal
200
Organized summaries of a business' financial activities
What are accounting records
200
the account used to summarize the owner's equity in business
What is a capital
200
revenue, expense, and withdrawal transactions affect
What is owner's equity
200
a list of accounts used by a business
What is chart of accounts
200
a business form ordering a bank to pay cash from a bank account
What is a check
300
A planned process for providing financial information that will be useful to management
What is an accounting system
300
An equation showing the relationship among assets, liabilities, and owner's equity
What is an accounting equation
300
assets taken out of a business for the owner's personal use
What is withdrawals
300
an account that reduces a related account on a financial statement
What is contra account
300
determining that the amount of cash agrees with the accounting records
What is proving cash
400
A person who plans, summarizes, analyzes, and interprets accounting information
What is an accountant
400
a financial statement that reports assets, liabilities, and owners equity on a specific date
What is a balance sheet
400
most businesses prepares a balance sheet on
What is the first day of the month
400
an amount recorded on the left side of the t-account
What is debit
400
information for each transaction recorded in a journal
What is an entry
500
A person who records, sorts, and files accounting information
What is an accounting clerk
500
a record summarizing all the information pertaining to a single item in the accounting equation
What is an account
500
a decrease in owner's equity resulting from the operation of a business
What is an expense
500
an amount recorded on the right side of a t-account
What is credit
500
a business form giving written acknowledgement for cash recieved
What is a reciept
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