EOT Review: Accounting Terms

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Across
  1. 2. Financial reports that summarize the financial condition and operations of a business
  2. 6. A list of accounts used by a business
  3. 10. The equation showing the relationship among assets, liabilities, and owner’s equity is called the
  4. 14. An increase in equity resulting from the sale of goods or services
  5. 15. The principles of right and wrong that guide an individual in making decisions
  6. 16. The side of the account that is increased
  7. 19. A business form giving written acknowledgement for cash received
  8. 21. An amount recorded on the left side of an account
  9. 22. Amounts to be paid in the future for goods or services already acquired
  10. 25. A sale for which payment will be received at a later date is called
  11. 27. An amount recorded on the right side of an account
  12. 28. The recording of debit and credit parts of a transaction
  13. 29. recording of debit and credit parts of a transaction
Down
  1. 1. A form on which a brief message is written to describe a transaction
  2. 3. A form describing the goods or services sold, the quantity, the price, and the terms of sale
  3. 4. System planned process designed to compile financial data and summarize the results in accounting records and reports.
  4. 5. Assets taken from the business for the owner’s personal use
  5. 7. the cost of goods or services used to operate a business
  6. 8. A formal written document that describes the nature of a business and how it will operate
  7. 9. A business paper from which information is obtained for a journal entry
  8. 10. the process of planning, recording, analyzing, and interpreting financial information
  9. 11. A business form ordering a bank to pay cash from a bank account
  10. 12. An accounting device used to analyze transactions
  11. 13. Recording transactions in a journal Information for each transaction recorded in a journal
  12. 17. Amounts to be received in the future due to the sale of goods or services
  13. 18. an amount owed
  14. 20. the difference between assets and liabilities.
  15. 23. A form for recording transactions in chronological order
  16. 24. The amount remaining after the value of all liabilities is subtracted from the value of all assets
  17. 26. anything of value that is owned