Accounting Crossword

3. a business paper that proves a transaction took place
7. check that cannot be processed because the account holder has nonsufficient funds
8. 12 consecutive months period that business uses for financial reporting and budgeting
13. account that gets closed at the end of the accounting year
16. try to use these instead of typing values in spreadsheets whenever/wherever possible
17. cost of operations that a company incurs to generate revenue
18. a cheque that has been signed but does not yet have the amount of money written on it
20. this shows the net income or loss over a specified period

1. accounts payable is money owed by a business to its suppliers shown as a liability on a company's balance sheet
2. account that does not close at the end of the accounting year
4. spreading the cost of a long-term asset over its useful, productive life
5. 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
6. consumer tax which businesses collect to give to the CRA
9. income that a business has from its normal business activities for example usually from the sale of goods and services to customers
10. a 4-Step Process to Closing Entries
11. form of business in which two or more people join their money and skills in conducting the business
12. cheque with the word “VOID” written across it
14. measures a business's ability to pay its current debts
15. every formula must start with this sign
19. a written message describing a transaction related to the owner, that would not otherwise produce a source document