Save
Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


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.
We do not share your email address with others. It is only used to allow you to reset your password. For details read 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.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't know
Remaining cards (0)
Know
0:00
share
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 3

Accouting

QuestionAnswer
Creditor A business or person to whom money is owen
Assets Property or items of value owned by a business
Business Transaction An economic event that causes a change-either an increase or a decrease-in assets, liabilities, or owner's equity
Capital Money supplied by investors, banks, or owners of a business.
Liability Amounts owed to creditors; the claims of creditors to the assets of a business
Receivibles Is an asset because it represents a claim to the assets of other people or business
Account A subdivision under assets, liabilities, or owner's equity that summarizes the changes and shows the balance for a specific item
Revenue Income good from the sales and good of service
Expences The cost of goods or services used to operate a business
Loans Payable Amount borrowed from bank
Delivery Equipment Assets
Capital Owner's Equity
Supplies Assets
Accounts Payable Liabilities
Accounts Receivable Assets
What is the Accounting Equation? Assets=Liabilities+Owners Equity
What is an asset? Property or items of value owned by a business
What is a liability? Amounts owed to creditors; the claims of creditors to the asses of a business
Bought office equipment with cash Cash (A) Down Office Equipment (A) Up
Paid the rent with a check (same as cash) Cash (A) Down Capitol (OE) Down
Paid a creditor on account Accounts Payable (L) Down Cash (A) Down
Bought supplies on account Accounts Payable (L) Down Supplies (A) Up
The owner invested money into the business Capitol (OE) Up Cash (A) Up
Created by: pichardoa4
 

 



Voices

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:
Retries:
restart all cards