Crossword

4. the cash payment occurs before an expense is recorded or the cash is received before the revenue is earned. Also called a prepaid.
6. owner(s).
7. The allocation of a plant asset's cost over its useful life.
8. The process of going out of business by selling all the assets, paying all the liabili- ties, and giving any leftover cash to
10. The left side of an account.
13. A person who owns stock in a corporation. Also called a stockholder.
15. A certificate representing ownership inter- est in a corporation. The holders of stock are called stockholders or shareholders.
16. All the goods that the company owns and expects to sell to customers in the normal course of operations.
17. The cash payment occurs after an expense is recorded or the cash is received after the revenue is earned.
18. The revenue to the payee for loaning money—the expense to the debtor.
20. An economic resource that is expected to be of benefit in the future.

1. Economic obligations (debts) payable to an individual or an organization outside the business.
2. The party to a credit transaction who makes a purchase and takes on an obliga- tion/payable.
3. A business with a single owner.
5. The record holding all the accounts and amounts.
9. Measure of how quickly an item can be converted to cash.
11. Those to whom a business owes money.
12. Monetary claim against a business or an individual.
14. An internal columnar document designed to help move data from the trial balance to their financial statements.
17. An examination of a company's financial records.
19. The claim of a company's owners to the assets of the business. Also called owner's equity for proprietorships and partnerships and called shareholders' equity or stock- holders' equity for a corporation.