Chapter 3: Double Entry Recording of Business Transactions

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Across
  1. 2. Drawings account is __________ against the Owner's Equity account
  2. 5. Double-entry book-keeping requires every transaction to be recorded with a debit and credit entry of _________ amount
  3. 9. When business returns purchases to supplier
  4. 10. Amount earned by carrying out business activities e.g. selling goods or providing services
  5. 11. Liabilities, income and __________ are credit in nature
  6. 12. Assets, Expenses and __________ are debit in nature
  7. 13. Expenses ___________ profit
  8. 15. Goods or services used up to earn income
  9. 17. Amount earned from goods sold or services provided to customers
  10. 18. Entry on the left side of the T-Account
Down
  1. 1. When customer returns goods bought to business
  2. 3. A book where all accounts are recorded
  3. 4. This principle states that at least two accounts are affected in every transaction
  4. 6. Income less than expenses
  5. 7. Book of original entry
  6. 8. Goods or stocks bought for resale purposes
  7. 10. Income __________ profit
  8. 14. Entry on the right side of the T-Account
  9. 16. Income more than expenses