Accounting 1 (3)

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  1. Summary of the effects of all transactions related to a particular item over a period of time.
    account
  2. List of accounts and their balances.
    trial balance
  3. Transfer balances from the journal to the general ledger
    posting
  4. Record of all transactions affecting a company.
    journal
  5. Determine the dual effect of business events on the accounting equation.
    analyze transactions
  6. A simplified form of a general ledger account with space at the top for the account title, one side for recording debits, and one side for recording credits.
    T account
  7. four types of financial statements
    • Income statement. 
    • Balance sheet. ...
    • Statement of cash flows. ...
    • Statement of retained earnings.

Card Set Information

Author:
hey_itsdarra
ID:
334552
Filename:
Accounting 1 (3)
Updated:
2017-09-25 16:18:58
Tags:
UofM accouting
Folders:
UofM accounting
Description:
test 1
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