Basic Terms

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Across
  1. 3. A financial statement that reports assets, liabilities, and owner's equity on a specific date.
  2. 5. An accounting device used to analyze transactions.
  3. 9. Assets taken out of a business for the owner's personal use.
  4. 10. An amount owed by a business.
  5. 11. Anything of value that is owned.
  6. 12. Type of balance on the side of the account that is increased.
Down
  1. 1. Planning, recording, analyzing, and interpreting financial information.
  2. 2. The account used to summarize the owner's equity in a business.
  3. 4. Financial rights to the assets of a business.
  4. 6. An amount recorded on the right side.
  5. 7. A business activity that changes assets, liabilities, or owner's equity.
  6. 8. An amount recorded on the left side.