Term
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Definition
| Planning, analyzing, and interpreting financial information |
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Term
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Definition
| A planned process for proving financial information that will be useful to managemant |
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Definition
| Organized summares of a business's financial activities |
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Definition
| A business that performs an activity for a fee |
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Definition
| A business owned by one person |
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Definition
| Anything of value that is owmed |
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Definition
| Financial rights to the assets of business |
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Definition
| An amount owed by a business |
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Term
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Definition
| The amount remaining after the value of all liabilities is subtracted from the value of all assts |
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Term
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Definition
| An equation showing the relationship among assets, liabilities, and owner's equity |
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Definition
| A business activity that changes assets, liabilities, or owner's equity |
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Term
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Definition
| A record summarizing all the information pertaining to a single item in the accounting equation |
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Definition
| The name given to an account |
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Definition
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Definition
| The account used to summarize the owner's equity in a business |
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Term
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Definition
| A financial statement that reports assets, liabilities, and owner's equity on a specific data |
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Term
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Definition
| An increase in owner's equity reulting from the operation of a business |
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Term
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Definition
| A sale for which cash will be received at a later date |
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Definition
| A decrease in owner's equity resulting from the operation of a business |
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Term
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Definition
| Assets taken out of a business for the owner's personal use |
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Term
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Definition
| An accounting device used to analyze transactions |
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Term
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Definition
| An amount recorded on the left side |
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Term
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Definition
| An amount recorded on the right side |
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Term
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Definition
| the side of the account that is increased |
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Term
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Definition
| A list of account used by a business |
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Term
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Definition
| A form for recording transactions in chronological order |
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Term
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Definition
| Recording transactions in a journal |
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Term
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Definition
| A journal amount column headed with an account title |
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Term
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Definition
| A jounal amount column that is not headed with an account |
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Term
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Definition
| Information for each transaction recorded in a jounal |
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Term
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Definition
| A jounal amount column that is not headed with an account |
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Term
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Definition
| the recorded of debit and credit parts of a transaction |
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Term
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Definition
| A business paper from which information is obtained for journal entry |
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Term
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Definition
| A business form ordering a back to pay cash from a bank account |
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Term
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Definition
| A form describing the goods or services sold, the quantity, and the price |
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Term
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Definition
| An invoice used as a soure document for recording a sale on account |
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Term
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Definition
| A business from giving written acknowledgement for cash received |
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Term
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Definition
| A from on which a brief message is written discribing a transaction |
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Term
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Definition
| Determing that the amount of cash agrees with the accounting records |
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Term
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Definition
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Term
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Definition
| A ledger that contains all accounts needed to prepare financial statements |
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Term
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Definition
| The number assigned to an account |
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Term
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Definition
| The procedue for arrigning accounts in a general ledger, assigning account numbers, and keeping records current |
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Term
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Definition
| Writing an account title and number on the heading of an account |
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Term
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Definition
| In such a case, the incorrect journal entry should be corrected with an additional journal entry |
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Term
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Definition
| a bank account from which payments can be ordered by a depositor |
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Term
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Definition
| A signature or stamp on the back of a check transferring ownership |
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Term
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Definition
| an endorsement consisting only of the endorser's signature |
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Term
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Definition
| an endorsement indicating a new owner of a check |
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Term
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Definition
| an endorsement restricting further transfer of a check's ownership |
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Term
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Definition
| A check with a future date |
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Term
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Definition
| A report deposits, withdrawals, and bank balances sent to a depositor by bank |
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Term
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Definition
| A check that a bank refuses to pay |
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Term
| electronic funds transfer |
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Definition
| A computerized cash payments system that uses electronic impulses to trransfer funds |
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Term
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Definition
| a bank card that, when making purchases, automatically deducts the amount of the purchase from the checking account of the cardholder |
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Term
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Definition
| an amount of cash kept on hand and used for making small payments |
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Term
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Definition
| a from showing proof of a petty cash payment |
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Term
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Definition
| the percentage relationship between one financial statement item and the total that includes that item |
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Term
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Definition
| Journal entries recorded to updata general ledger accounts at the end of a fiscal period |
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Term
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Definition
| accounts used to accumulate information from one fiscal period to the next |
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Term
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Definition
| Accounts used to accumulate information until it is transferred to the owner's capital account |
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Term
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Definition
| journal entries used to prepare temporary accounts for a nea fiscal period |
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Term
| post-closing trial balance |
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Definition
| a trial balance prepard after the closing entries are posted |
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