Accounting Ch.1

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Across
  1. 2. Something that the business owes someone else, like a purchase on account
  2. 4. Something that the business owns, like cash and supplies
  3. 5. Money earned by selling a product or providing a service
  4. 6. A business that provides this, rather than a thing
  5. 8. A business that sells a product
  6. 9. A business that takes raw materials and makes something
  7. 11. The financial statement that shows the owner's claim to the business
Down
  1. 1. The first financial statement created. Shows Revenue -Expenses
  2. 3. A = L +E
  3. 7. The owner's claim to the business, specifically their capital
  4. 10. The financial statement that lays out the accounting equation
  5. 12. Money spent in order to sell a product or service