A1 Gang!

2. Columns of a Worksheet that report income and expenses
3. Assets = Liabilities + Owners' Equity
4. When a company owes money.
5. a place to record all of the transactions for a business in chronological order.
7. anything you own of value.
10. A system for recognizing, organizing, analyzing, and reporting information about the financial transactions that affect an organization.
11. The left side of a "T" account.
13. The difference between the revenue a firm earns and the expenses it incurs in a given time period.
15. A place to keep record/balances of a company's total financial accounts
16. length of time for which a business summarizes financial information
17. A form used to prove accuracy of a ledger and determine profit/loss of a business.

1. Money a business is owed for goods/services
3. Changes recorded on a worksheet to show the consumption of an asset.
6. Increases in a firm’s assets that result from the sale of goods, provision of services, or other activities intended to earn income.
8. Money a business owes to its suppliers/vendors
9. Columns of a worksheet that contain Assets, Liabilities and Owners Equity.
12. A management tool that explicitly shows how a firm will acquire and use the resources needed to achieve its goals over a specific time period.
14. The right side of a "T" account.