Accounting Terms

JavaScript isn't enabled in your browser, so this file can't be opened. Enable and reload.

Accounting Terms

Fill in the blank with the correct term for each definition.

Name *

a record summarizing all the information pertaining to a single item in the accounting equation. *

the amount remaining after the value of all liabilities is subtracted from the value of all assets. *

the money paid for employee services. *

an amount owed by a business. *

an amount of cash kept on hand and used for making small payments. *

journal entries recorded to update general ledger accounts at the end of a fiscal period. *

transferring information from a journal entry to a ledger account *

an increase in owner’s equity resulting from the operation of a business; also called income. *

revenue account used to record the amount of merchandise sold. *

a financial statement that reports assets, liabilities, and owner’s equity on a specific date *

the number assigned to an account. *

amount of money paid to an employee at a specified rate per hour worked. *

amount of money owed, to creditors. *

an equation showing the relationship among assets, liabilities, and owner’s equity. *

money owed to a business. *

the difference between total revenue and total expenses when total expenses is greater. *

anything of value that is owned. *

the account used to summarize the owner’s equity in a business. *

recording transactions in a journal. *

the total amount earned by all employees for a pay period. *

a special journal used to record only purchases of merchandise on account. *

a decrease in owner’s equity resulting from the operation of a business. *

an amount recorded on the left side of a T account. *

form for recording transactions in chronological order. *

the difference between total revenue and total expenses when total revenue is greater. *

information for each transaction recorded in a journal. *

a group of accounts. *

journal entries used to prepare temporary accounts for a new fiscal period. *

a business paper from which information is obtained for a journal entry *

an accounting device used to analyze transactions. *

determining that the amount of cash agrees with the accounting records. *

a journal with two amount columns in which all kinds of entries can be recorded *

form describing the goods or services sold, the quantity, and the price. *

a columnar accounting form used to summarize the general ledger information needed to prepare financial statements. *

a business form ordering a bank to pay cash from a bank account. *

Submit

Clear form

Never submit passwords through Google Forms.

This content is neither created nor endorsed by Google. - Terms of Service - Privacy Policy

Does this form look suspicious? Report