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Chpt 4 accounting

TermDefinition
chart of accounts a list of all accounts used by a business
ledger is the principal book or computer file for recording, account by account type, with debits and credits in separate columns and a beginning monetary balance and ending monetary balance for each account.
double-entry accounting system to analyze and record a transaction
debit left side always
credit right side always
T account shows the dollar increase or decrease in an account that is caused by a transaction
normal balance Is always on the side used to recored increase to the account
Created by: 237518
Popular Accounting sets

 

 



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