Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
100
Planning, recording, analyzing, and interpreting financial information
What is accounting?
100
A record summarizing all the information pertaining to a single item in the accounting equation
What is an account?
100
An increase in owner's equity resulting from the operation of a business
What is revenue?
100
An accounting device used to analyze transactions
What is T account?
100
A form for recording transactions in chronological order
What is a journal?
200
A planned process for providing financial information that will be useful to management
What is accounting system?
200
The name given to an account equation
What is account title?
200
A decrease in owner’s equity resulting from the operation of a business
What is expense?
200
An amount recorded on the left side of a T account
What is an asset?
200
Recording transactions in a journal
What is journalizing?
300
Organized summaries of a business’ financial activities
What is accounting records?
300
An amount owned b y a business
What is a liability?
300
Assets taken out of a business for the owner’s personal use
What are withdrawals?
300
An amount recorded on the right side of a T account
What is credit?
300
A journal amount column headed with an account title
What is special amount column?
400
Define an accounting clerk
What is a person who records, sorts, and files accounting information
400
A business owned by one person
What is a proprietorship?
400
What is affected when cash is received from sales?
What is assets and owner's equity?
400
An account that reduces a related account on a financial statement
What is Contra Account?
400
The recording of debit and credit parts of a transaction
What is double-entry accounting?
500
A person who does general kinds of offic etasks, including some accounting tasks
What is general office clerk?
500
A business that performs an activity for a fee
What is service business?
500
Two examples of expense transactions
What is insurance, rent?
500
Normal balance side of a liability account
What is right side?
500
A form on which a brief message is written describing a transaction?
What is memorandum?
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