Show:
Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
100
Planning, recording, analyzing, and interpreting financial information
What is accounting
100
A business that performs an activity for a fee
What is service business
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 T-account
100
A form for recording transactions in chronological order
What is journal
200
A planned process for providing financial information that will be useful to management
What is an accounting system
200
A business owned by one person
What is proprietorship
200
When cash is received from sale, the total amount of assets and owner’s equity is what?
What is increased
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 is accounting records
300
Anything of value that is owned
What is asset
300
A decrease in owner’s equity resulting from the operation of a business
What is expense
300
An amount recorded on the right side of a T account
What is credit
300
A business form ordering a bank to pay cash from a bank account
What is check
400
A person who plans, summarizes, analyzes, and interprets accounting information
What is an accountant
400
Financial rights to the assets of a business
What is equities
400
Assetes taken out of a business for the owner’s personal use
What is withdrawals
400
A list of accounts used by a business
What is charts of accounts
400
A business form giving written acknowledgement for cash received
What is receipt
500
A business selling accounting services to the general public
What is a public accounting firm
500
An amount owed by a business
What is liability
500
A withdrawal decreases what?
What is owner's equity
500
An account that reduces a related account on a financial statement
What is contra account
500
A form on which a brief message is written describing a transaction
What is memorandum