Busy. Please wait.
Log in with Clever

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever

Username is available taken
show password

Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Didn't know it?
click below
Knew it?
click below
Don't Know
Remaining cards (0)
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Chapter 6 and 7

The length of time for which a business summarizes its financial information and repots its financial performance fiscal period
a fiscal period consisting of 12 consecutive months fiscal year
columnar accounting form used to summarize the general ledger information needed to prepare financial statements work sheet
a proof of equality of debits and credits in a general ledger trail balance
cash paid for an expense in one fiscal period that is not used until a later period prepaid expense
reporting income when it is earned and expenses when they are incurred accrual basis of accounting
reporting income when the cash is received and expenses when the cash is paid cash basis of accounting
changes recorded on a work sheet to update general ledger accounts at the end of a fiscal period adjustments
a financial statement that reports assets liabilities and owners equity on a specific date balance sheet
a financial statement showing the revenue and expenses when total revenue is greater net income
the difference between the total revenue and total expenses when the total expenses are greater net loss
journal entries recorded to update general ledger accounts at the end of a fiscal period adjusting entries
cash asset
accounts receivable asset
prepaid insurance asset
accounts payable liability
advertising expense expense
income statement for month ended...
balance sheet August 28, 2014
Created by: christypladies
Popular Accounting sets




Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
restart all cards