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Ch1
Ch2
Ch3
Ch4
Ch5
100
Planning, recording, analyzing, and interpreting financial information
What is accounting
100
anything of value that is owned
What is an asset
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 to management
What is an accounting system
200
an amount owed by a business
What is a liability
200
a decrease in owner's equity resulting from the operation of a business
What is an 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
Organized summaries of a business' financial activities
What are financial records
300
the amount remaining after the value of all liabilities is subtracted from the value of all assets
What is Owner's Equity
300
Assets taken out of a business for the owner's personal use
What are withdrawls
300
an amount recorded on the right side of a T account
What is credit
300
A journal amount column headed with an account title
What is a special amount column
400
A person who plans, summarizes, analyzes, and interprets accounting information
What is an accountant
400
the amount used to summarize Owner's Equity in business
What is capital
400
what happens when a business uses money due to operation
What is an expense
400
A list of accounts used by a business
What is a chart of accounts
400
A journal amount column that is not headed with an account title
What is a general amount column
500
a business selling accounting services to other buisnesses
What is a public accounting firm
500
A record summarizing all the information pertaining to a single item in the accounting equation
What is an account
500
what happens when a business has an influx of cash due to business operations
What is revenue
500
An account that reduces a related account on a financial statement
What is a contra account
500
A business paper from which information is obtained for a journal
What is a source document