Across
- 4. amount owned
- 7. Process designed to compile financial data, it summarizes results in accounting
- 8. assets taken from the business for the owners personal use
- 10. difference between the increases and decreases
- 12. Record summarizes all the transaction pretraining to a single item in the accounting equation
- 13. Value that is owned
- 14. use of ethics in making business decisions
- 16. cost of good or services used to operate a business
- 18. person or business to whom a liability is owed
- 19. explains the difference between personal assets and liabilities
- 23. Generally accepted accounting principles
- 26. rights to assets of a business
- 27. account used to summarize owners equity
Down
- 1. amount remaining after the value of liabilities are subtracted
- 2. Reports that summarizes financial condition of business
- 3. process of planning financial information
- 5. equation showing relationships between assets, liabilities and owner's equity
- 6. business activity changes assets, liabilities, or owners equity
- 9. increase in equity resulting from a sale of goods
- 11. business owned by a single person
- 15. Business that performs for a fee
- 17. Principles between right and wrong
- 20. Report that shows what an individual owns and what an individual owes, explains the difference
- 21. difference between assets and liabilities
- 22. sale of which payment will be received at a later date
- 24. name given to an account
- 25. formal written document that explains how a business is ran