Accounting 1 Vocabulary

Accounting Terms

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Across 4. Owned by stockholders 8. Docoment used to write a description of transaction 12. Left side of a T account 13. Source document used when cash is paid 14. Companies that owe you money 16. Money made from operating a business 20. Account used to summarize Owner's Equity 22. A name given to an account 23. Right side of a T account 24. Money paid to operate a business 25. Things that have value

Down 1. Assets=Liabilities+Owner's Equity 2. Displays Assets, Liabilities, and Owner's Equity 3. Form used to enter transactions in chronological order 5. Transferring information from journal to ledger 6. A number given to an account 7. Company owned by one person 9. Change in the accounting equation 10. A group of accounts-where transactions are summarized 11. Accounting software used by many small firms 15. Two or more owners 17. Companies that you owe money to. 18. When the owner takes money out of a business 19. Account that goes against a related account 21. Document used when cash is received from customer

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