Accounting Semester 1 Review

1234567891011121314151617181920212223
Across
  1. 2. Account classification of anything the owner invest or withdraws from the buisness
  2. 4. Expired insurance is adjusted in what account
  3. 5. When a compeny sells or performs service on account
  4. 6. Acronym for all real accounts
  5. 8. An asset is a
  6. 12. anything invested by the company
  7. 13. Decrease accounts payable with
  8. 14. Assets=Liability-OE
  9. 16. account classification of anything we owe
  10. 18. Assets=Liabitly - OE+ revenues -expenses
  11. 22. An account used to pay rent, insurance or such
  12. 23. Extended basic accounting eqaution
Down
  1. 1. Normal balance of asset account
  2. 2. End=Beginning+inv-drawing+/-NI
  3. 3. Sales or income received for service
  4. 5. When a company purchases items on account
  5. 7. Account classification of anything we own
  6. 9. decrease the accounts receivable with a
  7. 10. Normal balance of a liability
  8. 11. anything the owner takes out of the business
  9. 15. An rent expense is a
  10. 17. Do you close a nominal account
  11. 19. The basic accounting equation
  12. 20. Do you close a permanent account
  13. 21. Credits and debits must