Accounting terms

3. List of account balances in the ledger
6. A loan to a business usually secured over property
7. Amount expected to be received on the sale of the asset at the end of its useful life
11. People owing money to the firm
12. People owed money by the business for goods or services applied
14. Owner's investment
16. Expenses unpaid for on balance day
17. Tax paid on imported goods

1. Checks financial records
2. Money taken by the owner for personal use
4. The total depreciation on the asset so far in its life
5. Small amounts of cash on hand to buy small items like stamps and milk
8. benefits flow from resources controlled by the entity
9. The financial affairs of the business must be kept separate from those of the owner and other businesses
10. Intangible asset
13. Income owing to the business
15. The end of the accounting period