Across
- 1. owed by a business to outsiders → LIABILITY
- 5. statement showing income and expenses for a period → INCOME STATEMENT
- 7. in the value of an asset with the passage of time → DEPRECIATION
- 11. paid in advance for future benefit → PREPAID
- 12. of expenses over income → LOSS
Down
- 1. received from customers for goods sold or services rendered → REVENUE
- 2. claim on the assets of the business → EQUITY
- 3. showing the financial position of a business on a specific date → BALANCE SHEET
- 4. between total assets and total liabilities → CAPITAL
- 6. book of original entry of transactions → JOURNAL
- 8. resources owned by a business → ASSETS
- 9. increase in assets or a decrease in liabilities → GAIN
- 10. held for sale in the ordinary course of business → STOCK
- 12. incurred for rent of a building → RENT