Chapter 3 vocab
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| An accounting device used to analyze transactions | T Account
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| The side of the account that is increased | Normal Balance
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| An amount recorded on the left side | Debit
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| An amount recorded on the right side | Credit
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| A list of accounts used by a business | Chart of Accounts
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| An increase in owner's equity resulting from the operation of a business | Revenue
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| Anything of value that is owned | Assets
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| An amount owed by a business | Liabilities
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| The amount remaining after the value of all liabilities is subtracted from the value of all assets | Owner's Equity
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| A decrease in owner's equity resulting from the operation of a business | Expenses
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| Assets taken out of a business for the owner's personal use | Withdrawal
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| Account a business owes money to | Accounts Payable
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| Money owed to a business by its debitors | Accounts Receivable
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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