Accounting Reports for Small Business

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Across
  1. 3. when the Income during a period < the Expenses for that same period
  2. 4. _____________ Statement shows the income earned during a period less the expenses
  3. 5. GST __________ , an account that offsets the GST Collections and the GST paid for the period
  4. 6. cash or other assets taken out of a business by the owner
  5. 7. Accounting ____________ concept where the life of a business is divided into arbitrary time periods
  6. 8. __________ profit is Sales (net) less Cost of Sales
  7. 9. an asset which represents the good name and reputation of a business
  8. 10. an abbreviation for Cost of Sales
  9. 14. Accounts ___________, an example of a current asset
  10. 17. ______ Debts are debtors who cannot pay their accounts and are written off
  11. 18. ____________ Asset is one in which the future economic benefit lasts for longer than 12 months
  12. 19. another name for accounts receivable
  13. 20. an account in the ledger representing the owner's investment in a business
  14. 22. ________ Income include Interest Income, Rental Income, Gain on Sale of asset
Down
  1. 1. Accounts ___________, an example of a current liability
  2. 2. a type of loan used when buying land and buildings where the asset is used as security for the loan
  3. 3. a financing option where a business rents an asset instead of buying it
  4. 5. collating similar items into groups or categories
  5. 11. an example of a current liability
  6. 12. _____________ Sheet, sometimes referred to as a Statement of Financial Position
  7. 13. __________ & Fittings
  8. 15. the goods a business buys and sells to make a profit
  9. 16. __________ Asset is one in which the future economic benefit lasts for less than 12 months.
  10. 21. when the Income during a period > the Expenses for that same period