The Third Chapter

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Across
  1. 3. Subdivision under one part of the accounting equation
  2. 4. Managed or directed
  3. 5. Money the business owes, has to pay to creditors, under liabilities
  4. 12. Property owned by a business, first part of accounting equation
  5. 13. When you buy on credit you buy
  6. 14. First step in analyzing a business transaction, check which accounts are affected
  7. 16. Switch
  8. 18. An economic event that causes a change in assets, liabilities, or owner's equity
  9. 19. When the owner's takes money out for personal use it is called a
  10. 24. What comes after the owner's name in owner's equity
  11. 25. Creditor's claims to the assets of the business, middle part of accounting equation
  12. 26. Negative affect on an account
  13. 27. The cost of products or services used to operate a business, under owner's equity
Down
  1. 1. Money or other property paid out in order to produce profit
  2. 2. Positive affect on an account
  3. 5. A=L+OE
  4. 6. Person or business selling an item on credit
  5. 7. Something of value owned and controlled by a person or business
  6. 8. Financial claims to assets
  7. 9. Legal right to property
  8. 10. Income earned from the sale of goods or services, under owner's equity
  9. 11. Total amount of money owed to a business, being received later,under assets
  10. 15. Owner's claims to the assets of the business,last part of accounting equation
  11. 17. At some time later; in the end
  12. 20. Last step in analyzing a business transaction, double check
  13. 21. When you come into possession of something
  14. 22. Second step in analyzing a business transaction
  15. 23. Start, produce
  16. 24. When you buy something and agree to pay for it later you are buying it on what