Show:
The Accounting Equation
Ch 1
Work Sheet fora Service Business
Recording Transacitons Ch 3
Posting fr a GJ to a GL Ch 4
Cash Control Systems
Ch 5
100
Accounting
What is planning, recording, analyzing, and interpretering financial information?
100
fiscal period
What is the length of time for which a business summarizes and reports financial information?
100
Journal
What is a form for recording transactions in chronological order?
100
ledger
What is a group of accounts?
100
checking account
What is a bank account from which payments can be ordered by a depositor?
200
Service Business
What is a business that performs an activity for a fee?
200
Work sheet
What is a columnar accounting form used to summarize the general ledger information needed to prepare financial statements?
200
source document
What is a business paper from which information is obtained for journal entry?
200
general ledger
What is a ledger that contains all accounts needed to prepare financial statements?
200
endorsement
What is a signature or stamp on the back of a check transferring ownership?
300
Expense
What is decrease in owner's equity resulting from the operation of a business?
300
Trial Balance
What is a proof of the equality of debits and credits in a general ledger?
300
check
What is a business form ordering a bank to pay cash from a bank account?
300
posting
What is transferring information from a journal entry to a ledger account?
300
bank statement
What is a report of deposits, withdrawals, and bank balances sent to a depositor by a bank?
400
Withdrawals
What are assets taken out of a business for the owner's personal use?
400
Adjustments
What are changes recorded on a work sheet to update general ledger accounts at the end of a fiscal period?
400
Invoice
What is a form describing the goods or services sold, the quantity, and the price?
400
proving cash
What is determining that the amount of cash agrees with the balance of the cash account in the accounting records.
400
dishonored check
What is a check that a bank refuses to pay?
500
Sale on account
What is a sale for which cash will be received at a later date?
500
balance sheet
What is a financial statement that reports assets, liabilities, and owner's equity on a specific date?
500
Receipt
What is a business form giving written acknowledgement for cash received?
500
Correcting entry
What is a journal entry made to correct an error in the ledger?
500
petty cash
What is an amount of cash kept on hand and used for making small payments?