Across
- 1. The owner’s personal withdrawals of cash or other assets from the business.
- 6. REVENUE Income earned from performing a service.
- 7. PAYABLE A formal written promise to pay a specific sum of money at a future date.
- 8. EXPENSE Costs paid for the use of a building or office space.
- 9. EXPENSE Payments made in advance for protection against financial loss.
- 11. The most liquid asset; includes coins, currency, and checks.
Down
- 2. PAYABLE Amounts owed to suppliers for items bought on credit.
- 3. Goods held by a business for sale to customers.
- 4. SUPPLIES Consumable items used in the office like paper, pens, and ink.
- 5. REVENUE Money received from a customer for goods or services not yet provided.
- 10. RECEIVABLE Money owed to the business by customers who purchased on credit.