A financial statement showing the revenue and expenses for a fiscal period is called this.
what is an income statement?
100
journal entries used to prepare temporary accounts for a new fiscal period.
What is a closing entry?
100
transferring info from a journal entry to a ledger account.
What is posting.
100
the series of accounting activites included in recording financial information for a fiscal period.
What is the accounting cycle.
100
Planning, recording, analyzing, and interpreting financial information.
What is accounting.
200
the difference between total revenue and total expenses when the total revenue is greater.
What is net income.
200
journal entries recorded to update the general ledger accounts at the end of a fiscal period.
What is an adjusting entry.
200
has the journal page number
What is post reference.
200
accounting cycles are similar for a proprietorship and what?
What is a partnership.
200
Assets = Liabilities + Owner's Equity
What is the accounting equation.
300
the difference between total revenue and total expenses when the total revenue is less.
What is net loss.
300
accounts used to accumulate informatino from one fiscal period to the next.
What is a permanent account.
300
you put this when you dont have something posted.
What is a check mark.
300
in this kind of accounting, the emphasis is on the analysis of the source documents and preparation of timely and accurate journal entries and adjusting entries.
What is automated accounting.
300
a form of recording transaction in a chronological order.
What is a journal.
400
prepares two additional financial statements.
What is a partnership.
400
Accounts used to accumulate informatino until it is transferred to the owner's capital account.
What is a temporary account.
400
five steps are taken to post an amount into this kind of account.
What is a general credit column.
400
in this kind of accounting, all of the steps are done by hand, and a work sheet may be used to summarize information about the adjusting and closing entries and to complete the trial balance.
What is manual accounting.
400
transferrring information from a journal entry to a ledger account is known as what?
What is posting.
500
Financial information needed by managers and owners of a business is recorded where.
What is in a journal or a ledger.
500
adjusting and closing entries are posted and journalized when?
What is after financial statements are prepared.
500
when you post frequently, each vendor account always show up as this kind of balance.
What is up-to-date.
500
merchandising businesses organized as either partnerships or corporations are what in accounting cycles?
What is similar?
500
A ledger that contains all accounts needed to prepare financial statements is what?