Lesson 9 Business Accounting Basics

1234567891011121314151617181920
Across
  1. 1. The money that’s spent by a company to continue its business activities and operations.
  2. 4. A financial ratio that shows the relationship between profit and sales.
  3. 6. A comparison of planned and actual income and expenses during a specific period of time.
  4. 7. Financial form that reports the revenues and expenses of a business as well as its net income or loss at the end of a fiscal period.
  5. 8. The value of the owner’s investment in a company.
  6. 11. The list of accounts unique to a specific company based on its business. These accounts are used to track dollar amounts coming into and going out of a company.
  7. 12. A report providing financial statistics relative to a given part of an organization’s operations or status.
  8. 16. The theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, and so forth.
  9. 17. A statement of the financial position of a business on a specified date.
  10. 18. Money, time, or resources associated with a purchase or activity.
  11. 19. A department that is treated as a distinct entity, enabling revenues and expenses to be determined.
  12. 20. The amount of money that results from subtracting the cost of merchandise sold from net sales.
Down
  1. 2. A statement that shows how much the owner invested (contributed or put in), how much he or she withdrew (took out), and how the net income or net loss of the business increased or decreased the value of the owner’s overall investment (or worth) in the business for a period of time.
  2. 3. The format used for a general ledger page. The name of the account is put on the top line, and a vertical line is dropped from the top line (hence the "T"). Debits are recorded on the left side, and credits are recorded on the right.
  3. 5. Money earned from a company’s business activities.
  4. 9. A list of all the accounts and their balances on a particular date. Most information needed for preparing the various financial statements is noted on this single page.
  5. 10. A record of financial transactions listed chronologically in a log.
  6. 13. An exchange (e.g., fee for service, money for tangibles or things, donations, contributions) that amounts to value that must be recorded.
  7. 14. A record of financial transactions grouped by account.
  8. 15. Actual profit, calculated by subtracting all expenses from all revenue in a specific financial period.