Accounting

Planning, recording, analyzing, and interpreting financial info.

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

Anything of value that is owned

Account used to summarize the owner's equity in a business.

decrease in O.E. resulting from the operation of a business.

Amount owed by a business

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

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

list of accounts used by a business

Amount recorded on right side of T account

Left

accounting device used to analyze transactions

business form ordering a bank to pay cash from a bank account.

recording of debit and credit parts of a transaction

form for recording transactions in chronological order.

business paper from which info is obtained for a journal entry.

procedure for arranging accounts in a gen ledger, assigning account numbers, and keeping records current.

group of accounts

Transferring info from a journal entry to a ledger account

Determining that the amount of cash agresss with the balance of the cash account in the accounting records

reports of deposits, withdrawals and bank balances sent to a depositor by a bank

bank account form which payments can be ordered by a depositor

signature or stamp on the back of a check, transferring ownership.

• Special
• Restrictive
• Blank

Amount of cash kept on hand for small purchases

check with future date on it

Financial Statement that reports assets, liabilities, and owner's quity on a specific date

Original capital+Net Income-Drawing