Accounting semester 1 review

3. debits to the _____?
4. Expenses will always ______________ the companies overall net worth.
5. ________ are things consumed in your normal course of business.
9. What is the basic accounting equation?
10. ______ is items subject to sale, rent, or lease.
12. If you are losing money its a(n)____?
14. An expense account that is designated to summarize the amount of money we have spent on creating commercials or billboards.
15. Everything we own is a(n)________?
17. If you are making money its a(n)____?
18. There should never be a - in ______?
19. in every transaction there must be a minimum of ________ accounts that are effected.
22. An expense account that is designated to summarize any money that we have spent on our employees.

1. Capital is _________?
2. Accounting's purpose is to ____________.
3. Any money a company makes during a timne frame?
6. Accounts ________________ is any money owed to us.
7. An expense account that is used to summarize any money we have spent on bills like electricity and water.
8. Liabilities are ______?
11. revenues will always _____________ the companies overall net worth.
13. Always put debits _____?
16. Credits to the ____?
17. _______ is an asset.
20. The account that is designated for anything that the owner takes out of the company.
21. Your debits must _____ your credits.