Accounting 2 semester final review

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Across
  1. 2. Money taken out of a business by the owner is called_____.
  2. 4. the point of accounting is to ____.
  3. 5. money owed to us
  4. 6. accounts that can be closed into income summary.
  5. 8. Everything we own is called a _______.
  6. 12. assets=liabilities+capital-drawing+revenues-expenses
  7. 17. Net income/everything else goes on the _____.
  8. 18. Purpose is to use - not a revenue.
  9. 19. Everything we earn/invested is called ____.
  10. 20. to the left-assets, drawing, expenses
  11. 24. Everything we owe is called a _______.
  12. 25. Purpose is to resell.
  13. 26. ties into insurance
Down
  1. 1. alc goes on the ____.
  2. 3. money we owe
  3. 7. debits must equal your credits
  4. 9. end oe= beginning oe+ investments- drawing +- net income
  5. 10. "1/10, n/30" is called_______.
  6. 11. cash is ____.
  7. 13. permanent accounts
  8. 14. to the right-liabilities, revenue, capital
  9. 15. Money made is called ____.
  10. 16. Money put into a business by the owner is called____.
  11. 21. revenue-expenses
  12. 22. Money Spent is called ___.
  13. 23. the basic accounting equation is ____.