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100
Organized summaries of a business’ financial activities
What is Accounting Records
100
A record summarizing all the information pertaining to a single item in the accounting equation
What is Account
100
An increase in owners’ equity resulting from the operation of a business
What is Revenue
100
An accounting device used to analyze transactions
What is T account
100
Journal amount column not headed with an account title
What is General amount title
200
A person who plans, summarizes, analyzes, and interprets accounting information
What is Accountant
200
Amount owed by a business
What is Liability
200
A decrease in owners’ equity resulting from the operation of a business
What is Expense
200
Amount recorded on the left side of a t account
What is Debit
200
Recording transactions in a journal
What is Journalizing
300
An accountant who is employed by a single business
What is Private accountant
300
Financial rights to the assets of a business
What is Equities
300
Assets taken out of a business for the owners’ personal use
What is Withdrawals
300
Amount recorded on the right side of a t account
What is Credit
300
Form for recording transactions in chronological order
What is journal
400
Planning, recording, analyzing, and interpreting financial information
What is Accounting
400
Anything of value that is owned
What is Asset
400
Increases assets and owners’ equity
What is Receiving cash from sales
400
List of accounts used by a business
What is Chart of accounts
400
Journal amount column headed with an account title
What is Special amount column
500
A planned process for providing financial information that will be useful to management
What is Accounting System
500
A business that performs an activity for a fee
What is Service business
500
Decreases assets and owners’ equity
What is Paying cash
500
An account that reduces a related account on a financial statement
What is Contra account
500
Form on which a brief message is written describing a transaction
What is memorandum