Accounting

2. Assets= Liabilities+owner’s equity.
4. All funds on deposit with a bank or savings and loan institution, normally in non-interest-bearing accounts
6. Money that would be received later because of the sale of goods or services on credit.
8. Property or items of value owned by a business.
11. The accounting term for the financial claims to these assets
15. Anything of value that a person or business owns and therefore controls.
16. Transactions that occur when goods, services, or money are passed between one person, business, account, etc.
18. A subdivision under assets, liabilities, or owner’s equity
19. The cost of products or services used to operate a business.
20. any Person or business to which the business owes money to.

1. The creditor’s claims to the assets of the business
3. When a business buys an item on credit
5. The amount owed, or payable, to the creditors of a business.
7. Example: fees earned for services performed and cash received from the sale of merchandise
9. Money or other property paid out in order to produce profit
10. When the business buys something and agree to pay for it later, you are buying on
12. Transaction that happens when a business earns revenue, and the owner will take cash or other assets from the business for personal use.
13. The money in a bank account or due on an account
14. can be any financial asset that is used
17. The portion of a company's assets that an owner can claim.