simple accounting terms

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Across
  1. 1. of the entity after the deduction of its liabilities: EQUITY.
  2. 5. step of the Accounting process: JOURNALIZE (recording transactions in journal).
  3. 6. that a business owns: ASSETS.
  4. 9. formula: EQUATION (refers to Assets = Liabilities + Equity).
  5. 12. Answers
  6. 13. associated with running a company's business operations: OPEX (or OPERATINGEXPENSES if longer grid).
  7. 14. that a business owes: LIABILITIES.
Down
  1. 2. Interest Formula: PRT (Principal × Rate × Time).
  2. 3. report of a firm's financial position: BALANCESHEET.
  3. 4. step of the Accounting process: IDENTIFY (identify transactions).
  4. 6. step of the Accounting process: POST (post to ledger).
  5. 7. facts and figures: DATA.
  6. 8. provided by a bank: LOAN.
  7. 10. step of the Accounting process: FINANCIALSTATEMENTS.
  8. 11. Answers
  9. 13. Profit: REVENUEMINUSCOSTS (or PROFIT if short).