Across
- 5. record the value of assets at their historical value price
- 6. An entry made at the end of an accounting period to zero out all temporary accounts and transfer their balances to permanent accounts.
- 8. business from which merchandise is purchased or supplies or other assets are bought
- 9. Tax charged to both goods and services as they pass through different stages of production and delivery
- 11. occurs when expenses exceed revenues
- 12. The journal is also known as a ____
- 13. error Error caused by changing the order of digits when transferring figures from one place to another
- 14. Payment to stockholders
- 15. A group that is charge of running a corporation
Down
- 1. States that each expense item related to revenue earned must be recorded in the same period as the revenue to help earned
- 2. Period of time which earnings are measured
- 3. "bottom line" of a income statement
- 4. The ease with which an asset can be converted into cash
- 7. A mortgage is a example of _________
- 10. A form prepared by the customer showing the price deduction taken by the customer for returns and allowances