Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
100
planning, recording, analyzing, and interpreting financial information
What is accounting
100
business that performs an activity for a fee
What is service business
100
increase in owner's equity resulting from the operation of a business
What is revenue
100
the sides of a T account are also used to show increases and ____ in account balances
What is decreases
100
a journal amount column headed with and account title
What is special amount column
200
planned process for providing financial information that will be useful to management
What is accounthing system
200
a business owned by one person
What is proprietorship
200
decrease in owner's equity resulting from the operation of a business
What is expense
200
an account that reduces a related account on a financial statement
What is contra account
200
a journal amount column that is not headed with an account title
What is general amount column
300
organizes summaries of a business' financial activities
What is accounting records
300
financial rights to the assets of a business
What is equities
300
when cash is recieved from a sale, the total amount of assets and owners equity is
What is increased
300
an accounting device used to analyze transactions
What is T account
300
information for each transaction recorded in a journal
What is entry
400
a person who plans, summarizes, analyzes, and interprets accounting information
What is accountant
400
amount owed by a business
What is liability
400
assets taken out of a business for the owner's personal use
What is withdrawals
400
An amount recorded on the left side of a T account
What is Debit
400
the recording of debuit and credit parts of a transaction
What is double-entry accounting
500
a business selling accounting services to the general public
What is public accounting firm
500
amount remaining after the value of all liabilities is subtracted from the value of all assets
What is owner's equity
500
revenue, expense, and withdrawal transactions affect
What is owner's equity
500
an amount recorded on the right side of a T account
What is Credit
500
A business paper from which information is obtained for a journal entry
What is source document
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