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Ch1
Ch2
Ch3
Ch4
Ch5
100
planning, recording, analyzing, and interpreting financial information that will be usefull to management.
What is accounting?
100
business that preforms an activity for a fee
What is a service business?
100
an increase in owners' equityresulting 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 an order
What is a journal?
200
Organized summaries of a business
What is accounting records
200
the ammount remaining after the value of all liabilities
What is owners equity?
200
a decrease in owners' 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 debit?
200
recording transactions in a journal
What is journalizing?
300
a person who does general accounting work plus some summarizing and analyzing of accounting information
What is a bookkeeper?
300
a business activity that changed assets, liabilities, or owners equity.
What is a transaction?
300
assets taken out of a business for the owners personal use
What is withdrawls?
300
the amount recorded on the right side of a T account.
What is Credit?
300
a journal account title headed with an account title
What is a special amount column?
400
person who records, sorts, and files accounting information
What is an accounting clerk?
400
the account used to summarize the owners equity in business
What is capital?
400
revenue, expense, and withdrawl
What is transactions that effect owners equity?
400
left side balance
What is normal balance?
400
A journal account title that is not headed with a title
What is a general amount column?
500
knowledge of accountign will provide you with an important skill necessary for success.
What is the importance of communication and ethics in accounting?
500
insurance premiums must be paid in advance.
What is paid cash for insurance?
500
may be prepaired on any date
What is reporting a changed accounting equation on a balance sheet?
500
determine which accounts are changed
What is how transactions affect accounts?
500
a business paper from which information is obtained for a journal entry
What is a source document?