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Prepaid Rent
Prepaid Insurance
Supplies
10
Used to summarize general ledger information
What is a worksheet?
10
These are items owned that have monetary value
What are assets?
10
Endorsement indicating new check owner
What is a special endorsement
10
When Revenue is greater than expenses
What is a Net Income?
10
These are the 2 ways the fundamental accounting equation is stated.
What are 1) Assets-Liabilities=Owner's Equity and 2) Assets=Owner's Equity+Liabilities?
10
A check that a bank refused to pay.
What is a dishonored check?
10
This represents a business that is owned by one person.
What is a proprietorship?
10
Assets=Liabilities + Owner's Equity
What is The Accounting Equation?
10
Transfers ownership of a check
What is an endorsement?
10
Length of time for reporting financial information
What is a Fiscal Period?
10
This is the difference between total assets and total liabilities.
What is Owner's Equity? or What is Capital
10
An endorsement limiting further transfer of check's ownership.
What is a Restrictive Endorsement?
10
the formula is by adding net income and subtracting drawing
What is current capital
10
Any item or product that a company owes?
What is a liability?
10
This is another term used on the balance sheet that refers to Owner's Equity.
What is capital?