Accounting Basics

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Across
  1. 5. business owned by two or more persons who agree to operate the business as co-owners
  2. 6. an entry to the right side of a T account
  3. 7. a business owned by one person
  4. 9. the cost of goods or services that are used to operate a business
  5. 10. the removal of cash or another asset from the business by the owner for personal use
  6. 12. property or items of value owned by a business
  7. 14. a list of all the accounts used in journalizing transactions
  8. 15. income earned from the sale of goods and services
Down
  1. 1. a report of the balances in all asset, liability and owner's equity accounts
  2. 2. amounts owed to creditors
  3. 3. a report of the net income or net loss for a fiscal period
  4. 4. amount of money owed, or payable, to the creditors of a business
  5. 8. owner's claims to the assets of the business
  6. 11. an amount entered on the left side of a T account
  7. 13. an account shaped like a "T" that is used to analyze transactions