Accounting Terms

3. In accounting, revenue is the total amount of income generated by the sale of goods and services
6. Should be done monthly
7. Measures the loss in value of an asset
11. Compiles information from subledgers to create an overview of a business’s financial standing
12. are any debts or obligations owed by the company.
13. all of your profits before deductions
16. represent the amount of revenue generated by the business
18. the person who runs the store or business
19. are items of value your company owns.
20. Are divisions of the general ledger
21. Net worth is the value of all assets, minus the total of all liabilities.

1. Are expense items that cannot be clearly associated with a particular product or function.
2. are the daily expenses incurred in the operation of your business
4. is a summary of a company’s profit or loss during any one given period of time.
5. A ledger is a book or collection of accounts in which account transactions are recorded.
8. all expenses incurred in running your business
9. a fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee, especially to a manual or unskilled worker.
10. Pay this part time
14. Is a primary document of the general ledger
15. The amount of money you gain off a product
17. The amount a person in the business receives to work