Vocabulary
Completing a Worksheet
100
A proof that the equality of debit and credits in a general ledger.
What is trial balance?
200
Changes recorded on a worksheet to updat general ledger accounts.
What are adjustments?
200
The information that goes into the heading for a workseet.
What is company name, name of document (worksheet), and date?
300
A financial statement showing revenue and expenses.
What is income statement?
300
The calculation of net income.
What is Income Statement Credit - Income Statement Debit?
400
A financial statement that reports assets, liabilites, and owner's equity.
What is the balance sheet?
400
The difference between total revenue and total expenses, when total revenue is greater.
What is net income?
500
A columnar accounting form used to summarize the general ledger information needed to prepare financial statements.
What is a worksheet?
500
The difference between total revenue and total expenses, when total expenses are greater.
What is net loss?
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