Across
- 4. Planning, recording, analyzing, and interpreting financial information.
- 5. Financial rights to the assets of a business (The entire right side of the accounting equation).
- 8. A sale for which cash will be received at a later date. (3 words)
- 10. The difference between increases and decreases in an account. (The current value of an account.) – (2 words)
- 13. Cost of goods or services used to operate the business.
- 15. A financial statement that reports the changes in the Capital account for a proprietorship for a period of time. (First word only: ______ of OE)
- 18. The amount remaining after the value of all liabilities is subtracted from the value of all assets. (2 words)
- 19. An equation showing the relationship among assets, liabilities, and owner's equity. (First word only: _____ equation)
- 20. A financial statement showing the revenue and expenses for a fiscal period. (First word only: _______ Statement)
Down
- 1. Accounts that do NOT close at the end of a fiscal period.
- 2. Customers to whom you have sold on account to; future amounts to be received. – (2 words)
- 3. An amount owed by a business.
- 6. A financial statement that reports the value of a business' assets, liabilities, and owner's equity on a specific date. (First word only: ______ Sheet)
- 7. A business activity that changes the amount of an asset, liability, or owner's equity.
- 9. The series of accounting activities included in recording financial information for a fiscal period. (Second word only: Accounting _______)
- 11. Accounts that get closed to 0 at the end of each fiscal period.
- 12. An increase in equity resulting from the sale of goods or services.
- 14. Businesses that are owed money by our company (Second word only: each account title in the Liabilities section begins with Accounts ________)
- 16. The account used as a "storage facility" for sales and expenses before they are transferred to Capital. (2 words)
- 17. Assets taken out of business for owner's personal use.