Accounting Review 8th

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Across
  1. 2. A business activity or event that can be measured in monetary terms and recorded in the accounting records.
  2. 5. The principles and standards that guide acceptable and responsible behavior in business.
  3. 6. A list of ledger account balances prepared to verify that total debits equal total credits.
  4. 10. The owner's financial interest in a business, representing the owner's investment and accumulated equity.
  5. 11. A form of business organization owned by one individual.
  6. 13. The accounting record in which transactions are first recorded in chronological order when a special journal is not used.
  7. 14. A sale in which the customer is allowed to receive the merchandise or service now and pay at a later date.
  8. 16. A financial statement that reports a business's assets, liabilities, and owner's equity at a specific date.
  9. 17. A notation in an accounting record that identifies where a journal entry has been posted in the ledger.
  10. 18. A financial statement that reports revenues, expenses, and the resulting net income or net loss for a specific period.
Down
  1. 1. The equation that shows the relationship among assets, liabilities, and owner's equity.
  2. 3. Anything of value owned by a business that can provide future economic benefit.
  3. 4. The collection of all the accounts used to record and summarize a business's transactions.
  4. 7. An amount owed by a business to an outside party that will require future payment or service.
  5. 8. An asset resulting from a payment made in advance for a future benefit or service.
  6. 9. Original business records that provide evidence and information needed to record transactions.
  7. 12. The amount earned by a business from selling goods or providing services.
  8. 15. The amount by which total revenues exceed total expenses for a period.