Dual-Credit Accounting Chapter 2
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | A location within an accounting system where increases and decreases in a specific asset, liability, equity, revenue, or expense are recorded and stored.
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| show | The difference between the increases (including the beginning balance) and decreases in an account.
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| Balance column account | show 🗑
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| Chart of accounts | show 🗑
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| show | A journal entry that affects at least three accounts.
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| Credit | show 🗑
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| Creditor | show 🗑
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| show | Recorded on the left side; an entry that increases asset and expense accounts, and decreases liability, equity, and revenue accounts.
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| show | Customers and others who owe a company.
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| show | A ratio of total liabilities to total assets; used to describe risk associated with a company's debts.
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| Double-entry accounting | show 🗑
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| General Journal | show 🗑
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| Journal | show 🗑
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| Journalizing | show 🗑
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| show | Record containing all accounts of a business.
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| show | Account showing the owner's claim on company assets; equals owner investments plus net income (or less net losses) minus owner withdrawals since the company's inception; also referred to as equity.
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| Posting reference (PR) column | show 🗑
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| Source documents | show 🗑
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| show | An account form used as a tool to show the effects of transactions and events on specific accounts.
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| Trial balance | show 🗑
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| show | Liabilities created by advance cash payments from customers for products or service; revenues are earned when the products or services are delivered in the future.
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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.
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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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