Accounting Terms Crossword

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Across
  1. 1. Is a method of recording all transactions for a business in a specific format.
  2. 3. the movement of cash in and out of the business.
  3. 4. a financial statement that shows the financial position of a business on a single, specific date.
  4. 6. purchased supplies or inventory on credit.
  5. 7. a 12 month operating period for a business.
  6. 8. shows how many dollars of liquid assets a business has for every dollar of short term debt.
  7. 12. records the cost of all the partially finished goods at inventory time, which is normally the end of the fiscal year.
  8. 15. When a company sells a stock for a price that is higher than they paid for it.
  9. 16. all the money that is left over after deducting the gross profit and the expenses.
  10. 18. are goods a business purchases and transforms into another product.
  11. 19. money borrowed from a bank or other financial institutions.
  12. 21. Equity in corporations is known as shareholder’s equity because the shareholders are the owners.
  13. 24. Bills for goods and services either bought by or sold to the business.
  14. 25. Financial statements are presented to shareholders and potential investors in the form of a glossy publication.
  15. 26. The cost of the inventory that was sold to generate business revenue for a specific period of time.
  16. 27. a financial statement that shows a business’s profitability over a stated period of time.
  17. 28. the business’ ability to pay its short term debts.
  18. 29. The allocation of money to various areas of the business. To budget accurately, the business must estimate both sales and expenses.
  19. 32. Debts that will not be repaid for decades.
  20. 33. the owner’s investment in the business, or the financial part of the business that is owned by the owner.
  21. 35. the expenses involved in operating all the production facilities.
  22. 36. are the debts of a business.
  23. 39. Any business activity involving money is recorded as a transaction.
  24. 40. the difference between the cost of the product and the selling price of the product.
Down
  1. 2. are the costs of operating the business during the period the sales took place.
  2. 3. the debts a business can pay off very quickly.
  3. 5. Debts owed to a business by customers, suppliers, etc.
  4. 9. the payment for the goods or service received occurs at a future date.
  5. 10. Are reports that summarize the financial performance of a business.
  6. 11. are the things a business owns that disappear quickly, usually in less than one year. (cash)
  7. 13. Work that is directly involved in the manufacturing process.
  8. 14. are assets that a business will keep for a long time. (buildings)
  9. 17. show the total amount of the goods bought by the business in a year.
  10. 20. are things of value that the business owns.
  11. 22. Work that is not directly involved in the cost to manufacture the product.
  12. 23. a business earns revenue or income from the sales of goods or services.
  13. 30. the debt a business has to pay for real estate.
  14. 31. liquid assets can easily be turned into cash.
  15. 34. all the money that is left over after deducting the cost of goods sold form the revenue.
  16. 37. All businesses operating in Canada have to pay taxes on their profits or earnings.
  17. 38. Is the process of recording, analyzing, and interpreting the economic activities of a business.