financial terms crossword puzzle

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Across
  1. 3. occurs when the cost of goods sold exceeds net sales.
  2. 5. excess of net sales over the cost of goods sold.
  3. 9. a financial statement that shows a company's assets, liabilities and capital over a specific point of time.
  4. 13. goods returned by customers to the business.
  5. 14. transportation cost paid by the business
  6. 15. goods business return to suppliers
  7. 16. occurs when the total expenses exceed the gross profit or revenue resulting in a negative figure.
  8. 17. a financial account used to record buying and selling of goods to calculate gross profit or gross loss for a specific period.
  9. 18. the process of selling a company’s assets to pay off its debts, often leading to the business closing down
  10. 19. is the goods and materials a business holds for the purpose of resale or production.
  11. 20. a financial statement that combines the trading account and profit and loss account into one.
Down
  1. 1. calculations used to analyze financial performances.
  2. 2. cost of delivering goods to customers
  3. 4. a summary of all ledger balances at a specific date.
  4. 6. the amount of money or goods withdrawn by the owner of business for personal use.
  5. 7. an expenses that has been incurred but not paid.
  6. 8. the final profit after all operating expenses, interests, and taxes are deducted from gross profit.
  7. 10. formal records that summarizes the financial activities and position of a business.
  8. 11. the gradual reduction in the value of an asset over time due to wear, use, or obsolescence.
  9. 12. the difference between total current assets and total current liabilities.