Accounting 1-1

Edit Answers
12345678910111213141516
Across
  1. 2. financial rights to the assets of a business
  2. 5. assets=liabilities+owners equity
  3. 6. an account in a general ledger that summarizes all accounts in a subsidiary ledger
  4. 7. the recording of debit and credit parts of a transaction
  5. 9. the owners' equity in a corporation
  6. 13. a ledger that is summarized in a single general ledger account
  7. 16. a group of accounts
Down
  1. 1. the procedure for arranging accounts in a general ledger, assigning account numbers, and keeping reords current
  2. 3. a ledger that contains all accounts needed to prepare financial statements
  3. 4. business papers from which information is obtained for a journal entry
  4. 8. a form for recording transactions in chronological order
  5. 10. a journal used to record only one kind of transaction
  6. 11. anything of value that is owned
  7. 12. an amount owed by a business
  8. 14. a record that summarizes all transactions pertaining to a single item in the accounting equation
  9. 15. the amount remaining after the value of all liabilities is subtracted from the value of all assets