Accounting 2 semester final review

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Across
  1. 2. Money taken out of a business by the owner is called_____.
  2. 5. Everything we earn/invested is called ____.
  3. 6. Everything we own is called a _______.
  4. 7. money we owe
  5. 9. money owed to us
  6. 10. Everything we owe is called a _______.
  7. 14. Money put into a business by the owner is called____.
  8. 16. Money made is called ____.
  9. 22. revenue-expenses
  10. 23. "1/10, n/30" is called_______.
  11. 25. Purpose is to use - not a revenue.
  12. 26. alc goes on the ____.
Down
  1. 1. end oe= beginning oe+ investments- drawing +- net income
  2. 3. accounts that can be closed into income summary.
  3. 4. to the left-assets, drawing, expenses
  4. 8. Net income/everything else goes on the _____.
  5. 11. Purpose is to resell.
  6. 12. cash is ____.
  7. 13. ties into insurance
  8. 15. to the right-liabilities, revenue, capital
  9. 17. Money Spent is called ___.
  10. 18. debits must equal your credits
  11. 19. assets=liabilities+capital-drawing+revenues-expenses
  12. 20. the point of accounting is to ____.
  13. 21. permanent accounts
  14. 24. the basic accounting equation is ____.