Accounting Terminology

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Across
  1. 4. Sales are an example of this, resulting in money coming into the business.
  2. 5. Suppliers from whom we have received goods or services and have been allowed a period of time, again usually 30 days, before a payment becomes due.
  3. 7. What we owe for goods or services.
  4. 8. Goods or services that are needed to ensure the day to day running of the business. Examples include wages, advertising and rent.
  5. 9. Money or goods taken out of the business, by the owner for their own personal use.
  6. 10. Customers who owe us money. They have received the goods or services we have supplied but we have allowed them a period of time, usually 30 days, before the amount becomes due for payment.
Down
  1. 1. Goods bought to re-sell.
  2. 2. Items which have a short term use, eg cash in hand, cash at bank, inventory, receivables.
  3. 3. The term used to describe the money invested by the owner to finance the business. It records the amount the business owes to the owner.
  4. 6. Items which have a long term use, e.g. land, buildings, vehicles, equipment, computers etc.