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Accounting Cycle
Transactions
Terms
Mo Terms
Misc.
100
analyzing transactions
What is the first step
100
this account gets replinished at the end if the fiscal period
What is petty cash
100
list of accounts used by a business
What is chart of accounts
100
a business owned by one person
What is a proprietorship
100
closes the sales account
What is income summary
200
prepare financial statements
What is the fifth step
200
where the supplies expense is debited to match the saupplies which is credited
What is adjustments
200
transferring information from a journal entry to a ledger account
What is posting
200
an income in o.e. resulting from the operations of a business
What is revenue
200
income summary=debit, all expenses are credited
What is closing the expense accounts
300
post adjusting and closing entries
What is step siete
300
a source document on which a brief message is written
What is a memorandum
300
a financial statement that reports assets,, liabilities, and owners equity on a specific date
What is balance sheet
300
an account device used to analize transactions
What is T-accounts
300
has the percentage of sales on it
What is income statement
400
the series of accounting activities included in recording fiinancial information for a fiscal period
What is the accounting cycle
400
name three of the four parts any entry consists of
What is date, debit, credit, source document
400
a business that performs aa activity for a fee
What is service business
400
journal entries used to prepare tempoary accounts for a new fiscal period
What is closing entries
400
assets=liabilities+O.E.
What is accounting equasion
500
All expenses, owners drawing, and income summary.
What are the accounts set back to zero at the end of a fiscal period?? :)
500
column where you put the number of the general ledger
What is the post ref. column
500
a proof of the equality of debits and credirs in a general ledger
What is trial balance
500
accounts used to accumulate informationuntil it is transfered to the owner's capitol account.
What is tempoary accounts
500
business name, name of document, for the month ended_______
What is order of a heading of a statement