Accounting Crossword

1. 12 consecutive months period that business uses for financial reporting and budgeting
3. spreading the cost of a long-term asset over its useful, productive life
6. cheque with the word “VOID” written across it
7. income that a business has from its normal business activities for example usually from the sale of goods and services to customers
8. a business paper that proves a transaction took place
10. this shows the net income or loss over a specified period
11. consumer tax which businesses collect to give to the CRA
13. a cheque that has been signed but does not yet have the amount of money written on it
14. every formula must start with this sign
16. account that does not close at the end of the accounting year
18. cost of operations that a company incurs to generate revenue
19. measures a business's ability to pay its current debts

2. try to use these instead of typing values in spreadsheets whenever/wherever possible
4. money owed to a company by its debtors essentially payment which the company will receive from its customers who have purchased its goods & services on credit
5. a written message describing a transaction related to the owner, that would not otherwise produce a source document
9. account that gets closed at the end of the accounting year
12. accounts payable is money owed by a business to its suppliers shown as a liability on a company's balance sheet
15. form of business in which two or more people join their money and skills in conducting the business
17. a 4-Step Process to Closing Entries