Ch 1
Ch 2
Ch3
Ch 4
Ch 5
100
Planning, recording, analyzing, and interpreting financial information is called
What is Accounting?
100
A financial statement that reports assets, liabilities, and owner's equity on a specific date
What is Balance Sheet?
100
An increase in Owner's resulting from the operation of a business is called _____
What is Revenue?
100
Assets = Liabilities + Owner's equity
What is Accounting Equation?
100
A form for recording transactions in chronological order
What is Journal?
200
A planned process for providing financial information that will be useful to management
What is Accounting System?
200
Assets go on the ____
What is left side?
200
A decrease in owner's equity resulting from the operation of a business is called an _____
What is Expense?
200
An accounting device used to analyze transactions
What is T Account?
200
Recording transactions in a journal
What is Journalizing?
300
Organized summaries of a business' financial activities
What is Accounting Records?
300
Liabilities go on the _____
What is right side?
300
Assets taken out of a business for the owner's personal use are called ___
What is withdrawals?
300
An amount recorded on the left side of a T Account
What is Debit?
300
A small business may use a printing calculator to total the daily cash sales.
What is Calculator Tapes?
400
A person who plans, summarizes, analyzes, and interprets accounting information
What is Accountant?
400
Three sections of a balance sheet are
What is assets, liabilities, and owner's equity?
400
Withdrawals do this to owner's equity
What is decrease?
400
An amount recorded on the right side or a T Account
What is Credit?
400
A business form giving written acknowledgement for cash received.
What is Receipt?
500
A person who records,sorts, and files accounting information
What is Accounting Clerk?
500
A business that performs an activity for a fee is called a _____
What is Service bust?
500
Many businesses prepare a balance sheet only on this day
What is Last Day of the month?
500
T account is the basic device used to _________ the effect of transactions on accounts
What is analyze?
500
A form on which a brief message is written describing a transaction
What is Memorandum?
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