Accounting- Ch. 1, 2, 3 Vocab

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Across
  1. 2. The standards and rules that accountants follow while recording and reporting financial activities.
  2. 3. The process of planning, recording, analyzing, and interpreting financial information.
  3. 4. A record that summarizes all the transactions pertaining to a single item in the accounting equation.
  4. 9. A form for recording transactions in chronological order.
  5. 10. The principles of right and wrong that guide an individual in making decisions
  6. 11. The cost of goods or services used to operate a business.
  7. 12. An amount owed
  8. 14. Assets taken from the business for the owner’s personal use.
  9. 15. An increase in equity resulting from the sale of goods or services.
  10. 17. Anything of value that is owned.
  11. 19. An accounting device used to analyze transactions shaped like a 'T'
  12. 20. An amount recorded on the left side of an account.
Down
  1. 1. The side of an account that is increased is called the
  2. 3. Amounts to be paid in the future for goods or services already acquired.
  3. 5. A form describing the goods or services sold, the quantity, the price, and the terms of sale.
  4. 6. A business paper from which information is obtained for a journal entry.
  5. 7. An amount recorded on the right side of an account.
  6. 8. A business form giving written acknowledgement for cash received.
  7. 13. A list of accounts used by a business.
  8. 16. Information for each transaction recorded in a journal.
  9. 18. Financial rights to the assets of a business.