Accounting Crossword

2. where debit and credit transactions are recorded.
5. keeps track of the financial records of a business. In addition to recording financial transactions, it involves reporting, analyzing and summarizing information.
6. assets = Liabilities + Equity. With accurate financial records, the equation balances.
8. revenue minus expenses. Reductions for taxes, interest, and depreciation are included.
12. consists of cash and other assets that can be easily converted to cash.
13. liabilities of a business and represent money owed to others.
14. entered in the right column of accounts. Liability, equity and revenue increase on the credit side.
15. the actual amount of money a company brings in during a particular time period; gross income.

1. shows the amount of money owed for goods or services received.
3. assets of a business and represent money owed to a business by others.
4. represents the value of company ownership.
7. the first place financial transactions are entered. They are entered chronologically.
9. consists of raw materials, work in progress, and finished goods.
10. the obligations of an entity, usually financial in nature.
11. items of value that are owned.