Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
100
A record summarizing all the information perstaining to a single item in the accounting equation.
What is Accounting?
100
Anything of value.
What is an asset?
100
An increase in owner's equity resulting from th operation of a business.
What is revenue?
100
An accounting device used to analyze transactions
What is a T Account?
100
A journal amount column headed with an account title.
What is a Special Account Column?
200
A person who does general accounting work plus some summarizing and analyzing of accounting members.
What is a book keeper?
200
An amount owed by a business
What is Liability?
200
A decrease in owner's equity resulting from the operation of a business
What is an expense?
200
A list of accounts used by a business
What is a Chart of Accounts?
200
A journal amount column not headed with an account title.
What is General amount column?
300
An accountant who is employed by a single business.
What is a Private accountant?
300
Financial rights to the assets of a business
What is Equity?
300
Assets taken out of a business for the owner's personal use
What is withdrawals
300
An amount recorded on the left side of a T Account.
What is Debit?
300
A form for recording transactions in chronological order
What is a Journal?
400
A business selling accounting services to the general public.
What is a public accounting firm?
400
The amount remaining after the value of all liabilities is subtracted from the value of all assets.
What is owner's equity
400
Paying cash to owner for personal use decreases
What is Assets and OE?
400
An amount recorded in the right side of a T Account.
What is Credit?
400
Recording transactions in a journal
What is Journalizing?
500
A person who records, sorts, and files accounting information.
What is an accounting clerk?
500
A business activity that changes assets, liabilities, or owners equity
What is a Transaction?
500
Balance sheets total
What is Assets, Liab., and OE?
500
An account that reduces a related account on a financial statement
What is a Contra Account?
500
Information for each transaction recorded in a journal
What is an entry?
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