Category 1
Category 2
Category 3
Category 4
Category 5
100
A finincial statement that reports assets, liabilities, and owner's equity on a specific date.
What is a balance sheet?
100
A ledger that contains all accounts needed to prepare finacial statements.
What is a general ledger?
100
Capital account balance + Net income - drawing account
What is current capital?
100
A proof of the equality of debits and credits in a general ledger.
What is a trial balance?
100
A check with a future date.
What is postdated check?
200
Totaol revenue - total expenses
What is Net Income.
200
a form on which a brief message is written describing a transaction.
What is a memorandum?
200
The end of a month or a year.
What is a fiscal period?
200
A computerized cash payment system that transfers funds without the use of checks, currency, or other proper documents.
What is an EFT?
200
A endorsment indicating a new owner of a check.
What is a special endorsment?
300
Assests= Liabilites + OE
What is the accounting equation.
300
A list of accounts used by a business.
What is a chart of accounts?
300
two solid lines below your totals to show your work is complete.
What is double rule?
300
a check that the bank refuses to pay?
What is a dishonored check.
300
Previous balance + Debit column balance
What is New debit Balance?
400
To close an icome statement debit balance, you must credit________.
What is all expense accounts.
400
The side of the account that is increased.
What is the normal balance?
400
A report of deposits, withdrawals, and bank balances by a bank.
What is a bank statement?
400
Any persons or groups who will be affected by an action.
What is a stakeholder?
400
writing an account title and number on the heading of an account
What is opening an account?
500
A group of accounts
What is a ledger?
500
Name of company, name of report, and date of report.
What is a heading?
500
The series of accounting activities included in recording financial information for a fiscal period.
What is an accounting cycle?
500
A trial balance prepared after the closing entries are posted.
What is a post closing trial balance?
500
The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current.
What is file maintenance?
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