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Ch.1
Ch.2
Ch.3
Ch.4
Ch.5
100
Planning, recording, analyzing, and interpreting financial information that will be useful to management
What is Accounting?
100
A business owned by one person
What is a proprietorship?
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 a 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 for management
What is an accounting system?
200
Anything of value that is owned
What is an asset?
200
A decrease in owner's equity resulting from the operation of a business
What is an expense?
200
Recorded on the left side of a T account
What is debit?
200
Recording transactions in a journal
What is journalizing?
300
An organized summary of a business' financial activities
What is an Accounting Record?
300
Financial rights to the assets of a business
What is equities?
300
Assets taken out of a business for the owner's personal use
What is withdrawals?
300
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
A person who does general accounting work plus some summarizing and analyzing of accounting information
What is a bookkeeper?
400
The name given to an account
What is an account title?
400
Transactions that affect owner's equity
What is revenue, expense, and withdawal transactions?
400
List of accounts used by a business
What is a chart of accounts?
400
Information for each transaction recorded in a journal
What is an entry?
500
The principles of right and wrong that guide an individual in making decisions
What is ethics?
500
The account used to summarize the owner's equity in business
What is capital?
500
Prepared on any date to report information about a business' transactions
What is a balance sheet?
500
An account that reduces a related account on a financial statement
What is a contra account?
500
A business form ordering a bank to pay cash from a bank account
What is a check?