Balancing the Books

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Across
  1. 3. Owner’s residual interest in assets.
  2. 4. Income generated from business activities.
  3. 5. Principal book for recording transactions.
  4. 8. Gradual reduction of intangible asset value.
  5. 9. Step-by-step record for verification.
  6. 10. Resource controlled with economic value.
  7. 11. Cost incurred to generate revenue.
  8. 13. Obligation owed to another party.
  9. 14. List ensuring debits equal credits.
Down
  1. 1. System where debits equal credits.
  2. 2. Allocation of cost of tangible assets.
  3. 6. Ability to meet short-term obligations.
  4. 7. Initial record of financial transaction.
  5. 12. Difference between expected and actual figures.
  6. 15. Recording revenues and expenses when incurred.