Tema 2: Analyzing Transactions into Debit and Credit Parts

The name given to an account

The amount in an account

An equation showing the relationship among assets, liabilities, and owner's equity

Financial rights to the assets of a business

The account used to summarize the owner's equity in a business

An increase in owner's equity resulting from the operation of a business

A decrease in owner's equity resulting from the operation of a business

Anything of value that is owned by a business

The amount remaining after the value of all liabilities is subtracted from the value of all assets

Cash and other assets expected to be exchanged for cash or cunsumed within a year

Liabilities due within a short time, usually within a year

The amount of net income after federal income tax belonging to a single share of stock

Liabilities owed for more than a year

Total sales less sales discount and sales returns and allowances

A financial statement that shows changes in a corporation's ownership for a fiscal period

A business owned by one person

A sale for which cash will be received at a later date

A business that performs an activity for a fee

A business activity that changes assets, liabilities, or owner's equity

Assets taken out of a business for the owner's personal use

A list of accounts used by a business

An amount recorded on the right sie of a T account

An amount recorded on the left side of a T account

The side of the account that is increased

An accounting divice used to analyze transactions