Arkansas Accounting II - Unit 1 vocabulary
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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| accountant | show 🗑
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| accounting | show 🗑
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| show | entry-level job that can vary with the size of the company from specialization in one part of the system to a wide range of recordkeeping tasks
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| show | an equation showing the relationship among assets, liabilities, and owner's equity
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| account payable | show 🗑
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| show | the total amount of money owed to a business
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| adjusting entry | show 🗑
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| adjustments | show 🗑
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| asset | show 🗑
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| balance sheet | show 🗑
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| bookkeeper | show 🗑
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| capital | show 🗑
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| show | a list of accounts used by a business
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| show | a business form ordering a bank to pay cash from a bank account
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| chronological | show 🗑
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| closing entry | show 🗑
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| show | an account whose balance decreases another account's balance
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| show | an organization with the legal rights of a person and which may be owned by many people
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| double-entry accounting | show 🗑
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| show | an account showing the total assets taken out of the business by the owner
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| entry-level jobs | show 🗑
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| Equity | show 🗑
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| show | conforming to accepted and established professional standards of conduct
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| show | a decrease in owner's equity resulting from the operation of a business
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| financial statement | show 🗑
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| show | the length of time for which a business summarizes and reports financial information
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| general journal | show 🗑
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| general ledger | show 🗑
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| general office clerk | show 🗑
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| show | a gain measured in money that derives from capital or labor: also the amount of such gain received by an individual in a given period of time
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| income statement | show 🗑
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| show | the amount of goods on hand
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| show | recording transactions in a journal
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| liability | show 🗑
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| show | the measurement state of quality of being material
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| memorandum | show 🗑
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| partnership | show 🗑
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| petty cash | show 🗑
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| show | a trial balance prepared after the closing entries are posted
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| show | transferring information from a journal entry to a ledger account
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| show | a business owned by one person
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| proving | show 🗑
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| show | a business selling accounting services to the general public
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| show | to gain possession by paying money or the equivalent
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| show | a business form giving written acknowledgement for cash received
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| reconciling | show 🗑
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| show | a business paper from which information is obtained for a journal entry
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| show | an increase in owner's equity resulting from the operation of a business
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| special amount column | show 🗑
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| show | a division of a major chart of accounts which lists owner's equity accounts for a corporation
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| subsidiary ledger | show 🗑
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| show | a business actiity that changes assets, liabilities, or owner's equity
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| trial balance | show 🗑
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| show | a business from which merchandise is purchased or supplies or other assets are bought
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| withdrawal | show 🗑
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| show | a columnar accounting form used to summarize the general ledger information needed to prepare financial statements
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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:
patflanigan
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