Accounting Chapter 1

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Across
  1. 3. Organized summaries of a business's financial activities
  2. 5. A business that performs an activity for a fee
  3. 6. The amount remaining after the value of all liabilities is subtracted from the value of all assets
  4. 10. A planned process for providing financial information that will be useful to management
  5. 12. The account used to summarize the owner's equity in a business
  6. 13. The amount in an account
  7. 15. An equation showing the relationship among assets, liabilities, and owner's equity
Down
  1. 1. A business activity that changes assets, liabilities, or owner's equity
  2. 2. A business owned by one person
  3. 4. Anything of value that is owned
  4. 7. Financial rights to the assets of a business
  5. 8. A financial statement that reports assets, liabilities, and owner's equity on a specific date
  6. 9. An amount owed by a business
  7. 11. Planning, recording, analyzing, and interpreting financial information
  8. 13. A record summarizing all the information pertaining to a single item in the accounting equation
  9. 14. title The name given to an account