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Accounts in Assets
Accounts in Liabilities
Accounts in Equity
Definitions I
Definitions II
100
Physical money.
What is cash?
100
Promise to pay the bank.
What is notes payable?
100
Own
What is assets?
100
Financial diary
What is a journal?
200
Pencil, paper, pens
What is supplies?
200
Promise to pay the employee.
What is wages payable?
200
Owe out.
What are liabilities?
200
A business deal.
What is a transaction?
300
Office, factory, garage.
What are buildings?
300
Promise to pay taxes.
What is taxes payable?
300
Owe in
What is equity?
300
Keeping financial records of a business.
What is accounting?
400
Car, machine, computer.
What is equipment?
400
Something owed to you.
What is accounts receivable?
400
A collection of individual information by category.
What is a ledger?
500
Insurance, rent, something you pay in advance.
What is pre-paid accounts?
500
What the owner put in the business.
What is owner capital?
500
"On account"
What is accounts payable?