SR2022 - Ice breaking -

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Across
  1. 6. The ___________________ entries are done at the end of every month
  2. 7. Equals a corporation’s accumulated net income (loss) for all prior periods that has not been distributed to shareholders (acronym)
  3. 9. The _______ ________ statement summarizes how changes in balance sheet accounts affect the cash account during the accounting period
  4. 11. statement of financial position in a particular point in time
  5. 12. Taking something from the journal to the ledger
  6. 13. An example of Revenue is _____
  7. 14. Independent examination
  8. 15. Charge for using money until repaid at a future date
  9. 17. _____is an asset
  10. 19. Revenue, expenses and net income/loss are shown on the _____
  11. 20. When expenses are greater than revenue you have a _____
  12. 22. A written legal obligation to repay an amount of borrowed money at a particular future date
  13. 23. Estimate of amount to be recovered at the end of an asset's useful life
Down
  1. 1. An entity is expected to remain in operation for the indefinite future (concept)
  2. 2. A liability created by buying products or services on credit
  3. 3. Credit
  4. 4. This affects owner's equity
  5. 5. Historical cost of an asset less its accumulated depreciation
  6. 8. Entity created by law and separate from its owners
  7. 10. Assets are all depreciated except
  8. 15. Is principles-based
  9. 16. When a customer owes you money
  10. 18. = net sales - gross margin
  11. 21. In accounting at least ____________ accounts are affected in a transaction
  12. 24. Any transaction will change the ___________ of a business