April’s Accounting Crossword Challenge

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Across
  1. 1. The title of the asset account that reports the unexpired cost of insurance premiums that have already been paid is _______ insurance.
  2. 4. A company's debts or financial obligations it incurred during business operations
  3. 5. The accounting guideline that prevents assets from being reported at amounts greater than their cost is the ________ principle.
  4. 6. A company's total earnings that are calculated by subtracting totally expenses from total revenues.
  5. 7. An accounting entry that may either decrease assets or increase liabilities and equity on the company's balance sheet, depending on the transaction and is recorded on the right side of a T-Account
  6. 9. Depreciation is an allocation technique; it is not a ____________ technique.
  7. 13. financial statement that reports a company's financial performance over a specific accounting period. Financial performance is assessed by giving a summary of how the business incurs its revenues and expenses through both operating and non-operating
  8. 16. Typically this could be cash, inventory or accounts receivable. Anything a business owns that has a cash value is listed as this.
  9. 17. The amount of money owed by your customers after goods or services have been delivered and/or used.
Down
  1. 2. the amounts received by or due a company for goods or services it provides to customers. Receipts are cash revenues.
  2. 3. a term for a set of financial records that use double-entry bookkeeping. This describes the appearance of the bookkeeping entries.
  3. 8. An accounting entry where there is either an increase in assets or a decrease in liabilities on a company's balance sheet and is recorded on the left side of a T-Account.
  4. 10. The amount of money you owe creditors (suppliers, etc.) in return for good and/or services they have delivered.
  5. 11. The fixed, variable, accrued or day-to-day costs that a business may incur through its operations. Examples include payments to banks, suppliers, employees or equipment.
  6. 12. A financial report that summarises a company's assets (what it owns), liabilities (what it owes) and owner’s equity at a given time.
  7. 14. The percentage amount of stock a person has ownership interest in the company. The owners of the stock are commonly referred to as the shareholders.
  8. 15. A systematic way of recording and reporting financial transactions