Across
- 3. when the asset are placed at the left side and the liabilities and the owner's equity at the right side of the statement.
- 4. the amount of remaining value of all liabilities subtracted from the value of all assets.
- 9. an accounting device used to analyze transaction.
- 11. major element of the income statement that reports fees.
- 12. is another general term used to designate income.
- 13. an organization whereby two or more persons contribute property or money into a common funds and divide the profits among themselves.
- 15. the basis or method of accounting that is less effective than the accrual basis in measuring profitability
- 17. An entry to the right side of an account
- 19. claims of the business from anyone for sales made or services rendered on account
- 25. a document given to the employee when the payroll is run.
- 26. A financial statement that reports the assets, liabilities, and owner's equity
- 28. is a listing of the balances of all accounts in the order in which they appear in the ledger.
- 29. the adding process
- 31. a business activity that changes assets, liabilities or owner's equity.
- 32. business papers which are used as the basis of journal entries.
- 37. items that business owns
- 39. is the writing down of the business transactions in a record book called jornal.
- 40. planning, recording, analyzing and interpreting financial information.
- 42. is the process of chronologically recording transactions in the journal in the form of journal entries.
- 44. the entire number is erroneously moved one or more spaces to the right or to the left.
- 45. the books of the company that contains all of the accounts.
- 46. type of a business engaged in buying ang selling goods or merchandise.
- 47. this component of property, plant and equipment is not depreciated.
- 48. the amount remaining after the value af all liabilities is subtracted from all assets.
- 49. major element of the income statement that reports the costs that have been used in order to obtain revenues during the accounting period
Down
- 1. working papers needed in the preparation of financial report.
- 2. amount of money taken by the owner from the business.
- 3. procedures or steps employed to process transactions during the fiscal period.
- 5. statement a financial statement showing the revenue and expenses for a fiscal period.
- 6. items that the business owes
- 7. are obligations or debts of the business that will be due and payable beyond one year.
- 8. they are accounts having open balances in the ledger.
- 10. an amount recorded on the left side.
- 14. the difference between the debit and credit columns of accounts in the ledger.
- 16. assets taken out of a business for the owner's personal use.
- 18. twelve months starting January 1 and ending December 31.
- 20. accounts with both debit and credit side equal.
- 21. the erroneous arrangement of digits.
- 22. basis method of accounting where expenses are reported as they are incurred rather than when they are paid.
- 23. the assets are listed first, followed by the liabilities and then the owner's equity.
- 24. systematic allocation of the cost of equipment and buildings used in a business from the balance sheet to the income statement over the useful life of asset
- 27. refers to small items of equipment like hammers, screwdrivers etc.
- 30. twelve months starting with any month except January and ending in any month except December.
- 33. refers to earnings derived from services rendered whether on cash or on account.
- 34. an organization composed of five or more persons.
- 35. the owners equity section of a corporation's balance sheet.
- 36. is income from rendering legal services.
- 38. is the process of the transferring the debit and credit entries from the journal to the general ledger.
- 41. a document which shows amount to pay
- 42. the book of prime entry for non-regular transactions.
- 43. is issued when payment is made from the cash deposited in the bank.