accounting 1

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Across
  1. 2. a planned process for providing financial information that will be useful to management.
  2. 5. the amount remaining after the value of all liabilities is subtracted from the value of all assets
  3. 10. financial reports that summarize the financial conditions and operations of a business.
  4. 12. a business that performs an activity for a fee
  5. 13. the process of planning, recording, analyzing, and interpreting financial information.
  6. 14. the principal of right and wrong that guides an individual in making decisions
  7. 17. financial reports that summarize the financial condition and operations of a business
  8. 20. a record that summarizes all the transactions pertaining to a single item in the accounting equation.
  9. 23. a business owned by one person
  10. 26. an amount owed
  11. 28. accepted accounting principles. the standards and rules that accountants follow while recording and reporting financial activities
  12. 29. the cost of goods or services used to operate a business
  13. 30. a person or business to whom a liability is owed
  14. 31. ethics the use of ethics in making business decisions
Down
  1. 1. financial rights to the assets of business
  2. 2. the difference between the increase and decrease in an account.
  3. 3. a formal report that shows what an individual owns, what an individual owes, and the difference between the two.
  4. 4. a planned process designed to compile financial data and summarize the results in accounting records and reports.
  5. 6. an amount paid for the use of money for a period of time
  6. 7. assets taken from the business for the owners personal uses
  7. 8. a sale for which payment will be received at a later date
  8. 9. a formal written document that describes the nature of a business an how it will operate
  9. 11. the name given to the account
  10. 15. any business activity that changes assets, liabilities, or owners equity.
  11. 16. interest paid on an original amount deposited in a bank plus any interest that has been paid
  12. 18. an equation showing the relationship among assets, liabilities, and owners equity.
  13. 19. the difference between assets an liabilities
  14. 21. an increase in equity resulting fro the sale of goods or services
  15. 22. an account used to summarize the owners equity in a business
  16. 24. the difference between personal assets and personal liabilities
  17. 25. business a business that performs an activity for a fee (ex; lawn care business)
  18. 27. anything of value that is owned (ex; phone, car, house)