Chapter 4 & 5 Crossword

1. Balance A financial report that lists balances of all ledger accounts to check for errors.
5. A type of account used for internal tracking, often represented in a T-shape.
6. A group or file of all accounts in an accounting system.
8. Funds withdrawn from a business by its owner for personal use.
9. Accounting A fundamental principle in accounting that ensures transactions maintain balance.
11. Equation A mathematical equation that represents the relationship between assets, liabilities, and equity.
12. Costs incurred by a business to generate revenue.
13. A category of accounts that represent what a business owns.

2. The income generated from selling goods or services.
3. A category of accounts that represent what a business owes.
4. Statement A financial document that summarizes revenue and expenses over a period.
5. A record that documents each change to items in the accounting equation.
7. and Credit A method used in accounting to record increases and decreases in financial accounts.
10. Equity The section of the ledger that tracks the owner’s financial stake in a business.
11. Balance The total amount of all accounts in a ledger at a specific time.