Chapter 4-6 terms and definitions

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Across
  1. 4. Amounts (or customer deposits)received in advance of providing goods and services in the future
  2. 6. Amounts owed to suppliers for purchases of good and services on account
  3. 10. The right to collect from customers from prior sales on credit
  4. 12. The control activity in which one employee is not responsible for all parts of a business transaction process
  5. 15. Prepare documents to show activities that have occurred (prenumbered documents)
  6. 16. Check one's work (bank reconciliations)
  7. 17. Assets and information is not openly available to all employees (locks, passwords, etc. in place)
  8. 18. Cost of intangible (long-term assets without physical substance) used up or expired during the current period
Down
  1. 1. Cost of insurance coverage for the current period
  2. 2. The types of accounts that are closed (reduced to zero) during the closing process and transferred to retained earnings
  3. 3. The costs allocated to using up a building or equipment during the current period
  4. 5. The control principle in which each employee is assigned a specific task
  5. 7. The contra-asset account used to accumulated (or add up) depreciation expense over time
  6. 8. Items on hand that will be used to make goods or services
  7. 9. Amount paid for a rental space relating to future periods
  8. 11. Amount paid to obtain insurance for future periods
  9. 13. Cost of rent in the current period
  10. 14. Cost of supplies used up in the current period