Finance: Chapters 1-4

4. The account name for recording assets taken from the business for the owner’s personal use.
7. Financial rights to the assets of a business.
8. The process of planning, organizing, analyzing, and interpreting financial information.
9. A business paper from which information is obtained for a journal entry.
13. A form on which a brief message is written to describe a transaction.
14. A business owned by one person.
16. A form for recording transactions in chronological order.
19. The account name used when the business buys good or services on account.
20. The left side of a T-account.
21. The cost of goods or services used to operate a business.
23. A person o business to whom a liability is owed.
25. Anything of value that is owned.

1. The right side of a T-account.
2. A form showing total cash sales of the day.
3. An increase in equity resulting from the sale of goods or services.
5. The account name used to record when a sale is made on account.
6. Assets taken from the business for the owner’s personal use.
10. Any activity that changes assets, liabilities, or owner’s equity.
11. – Generally accepted accounting principles. (Acronym)
12. A sale for which payment will be received at a later date.
15. A business form to obtain a record of a sale on account.
17. A business form giving written acknowledgement for cash received.
18. Any amount owed.
22. The principles of right and wrong that guide an individual in making decisions.
23. A business form ordering a bank to pay cash from a bank account.
24. The difference between assets and liabilities.