Accounting Terms

3. of balance on the side of the account that is increased
5. of value that is owned
8. financial statement that reports assets, liabilities, and owner's equity on a specific date
10. amount recorded on the left side
11. taken out of a business for the owner's personal use.
12. recording, analyzing and interpreting financial information
13. amount owed by a business

1. accounting device to analyze transactions
2. amount recorded on the right side
4. amount of remaining value of all liabilities subtracted from the value of all assets
6. rights to the assets of a business
7. business activity that changes assets, liabilities, or owner's equity
9. account used to summerize the owner's equity in a business