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