Accounting

3. an equation showing the relationship among assets, liabilities, and owner's equity.
6. a sale for which cash will be received at a later date.
8. a list of accounts that is used by a business.
10. recording transactions in a journal.
13. a form on which a brief message is written describing a transaction.
14. an accounting device used to analyze transactions.
17. the account used to summarize owner's equity in a business.
19. the amount remaining after the value of all liabilities is subtracted from the value of all assets.
20. financial reports that summarize the financial condition and operations of a business.

1. the recording of debit and credit parts of a transaction.
2. a ledger that contains all accounts needed to prepare financial statements.
4. the principles of right and wrong that guide an individual in making decisions.
5. an amount recorded on the right side of a T account.
7. the side of the account that is increased.
9. a business paper from which information is obtained for a journal entry.
11. an amount recorded on the left side of a T account.
12. a business transaction that changes assets, liabilities, or owner's equity.
15. planning, recording, analyzing, and interpreting financial information.
16. a decrease in owner's equity resulting from the operation of a business.
18. an increase in owner's equity resulting from the operation of a business.