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Chp 4

Chapter 4 Accounting

TermDefinition
Charts of accounts is the list of all accounts used by a business
Credit any entry on the right side of the equation
Debit Any entry on the left side of the equation
Double entry accounting To analyze and record a transaction, recognizes the different sides of business transactions such as debit and credit
Ledger Weather a system is manual of electronic, accounts are grouped in this
Normal balance Is always the side used to record increases in the account
T account Shows the dollar increase or decrease that is caused by a transaction
Created by: Jdegolier16
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