an entry on the right side of an account – decreases assets or increase liabilities
What is credit
100
what is the name of the u.s currency?
a dollar bill
100
currency
What is another name for cash?
100
what coin cost 1 cent
penny
100
what coin cost 10 cent
dime
200
money you owe
What is debt?
200
paycheck
What is another name for income?
300
on the left side of an account- increases assets or decreases liabilities
What is debit
300
what coin cost 25 cent
What is quarter
300
who is on the 2$ bill
What is tomas jefferson
300
who is on the dollar bill
What is george washington
400
financial burden; cost (money spent)
What is expense
400
who is on the 20 dollar bill
What is Andrew jackson
400
who is on the 5 dollar bill
What is abraham lincon
400
who is on the 100 dollar bill
What is ben franklin
500
the amount of the initial investment plus retained (earnings reinvested in the business). The owners right to the assets of a business.
What is Owners Equity
500
things you own, such as cash, real estate equipment inventory. (something owned that has value.)
What is assets?
500
a financial statement of a companies operation. Shows a company’s income, expenses, and income for a period of time. Shows the company’s profit or loss for a given period of time
What is an income statment?
500
official financial statement that includes the company’s assets and liabilities. It determines the value of the company by subtracting liabilities from assets.