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Ch 1
Ch 2
Ch 3
Ch 4
Ch 5
100
Planning, recording, analyzing, and interpreting financial information
What is Accounting?
100
Business that performs an activity for a fee
What is a Service Business?
100
Increase in owner’s equity resulting from the operation of a business
What is Revenue?
100
Accounting device used to analyze transactions
What is T-Account?
100
Form for recording transactions in chronological order
What is Journal?
200
Planned process for providing financial information that will be useful to management
What is Accounting System?
200
Business owned by one person
What is a Proprietorship?
200
Decrease in owner’s equity resulting from the operation of a business
What is Expense?
200
Amount recorded on the left side of T-Account
What is Debit?
200
Recording transactions in a journal
What is Journalizing?
300
Organized summaries of a business’ financial activities
What is Accounting Records?
300
Anything of value that is owned
What is an Asset?
300
Assets taken out of a business for the owner’s personal use
What is Withdrawals?
300
Amount recorded on the right side of T-Account
What is Credit?
300
Journal amount column headed with an account title
What is Special Amount Column?
400
Person who plans, summarizes, analyses, and interprets accounting information
What is an Accountant?
400
Financial rights to the asset of a business
What is Equities?
400
Times business needs to prepare business sheet
What is Last Day of Month?
400
List of accounts used by a business
What is Chart of Accounts?
400
Journal amount column not headed with an account title
What is General Amount Column?
500
A business selling accounting services to the general public
What is a Public Accounting Firm?
500
An amount owed by a business
What is Liability?
500
Cash, Supplies, Prepaid Insurance
What is Assets?
500
Account that reduces a related account on a financial statement
What is Contra Account?
500
Information for each transaction recorded in a journal
What is Entry?