Accounting Concepts

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Across
  1. 1. Income exceeds expenses.
  2. 5. Owner buys flowers for his wife by withdrawing money from business.
  3. 8. Stores Items bought to use up in the business.
  4. 9. Costs incurred for the purpose of generating income.
  5. 10. Money kept in the business to give change.
  6. 12. Daily/Weekly payments made to employees.
  7. 13. A liability that will become payable after a period of one year.
  8. 14. Property that belongs to the business.
Down
  1. 2. Proof of money received.
  2. 3. Money invested in a bank or to buy shares.
  3. 4. Money borrowed from a financial insititution.
  4. 6. Book of First Entry.
  5. 7. Contribution by the owner in the form of money and other assets.
  6. 10. The accounting name for service fees.
  7. 11. Summary if the different journals.