Accounting Terms: Back to Basics Crossword

describes the sources and uses of cash for a reporting period
charge for using money until repaid at a future date
security that represents ownership in a corporation; holders exercise control by electing a board of directors and voting on corporate policy
amount by which a company's value exceeds the value of its individual assets and liabilities
class of ownership in a corporation that has a higher claim on its assets and earnings than common stock
net sales minus cost of goods sold
record within an accounting system where increases and decreases in a specific asset, liability, equity, revenue, or expense are entered and stored
process of allocating the cost of an intangible asset to expense over its estimated useful life
an entry that increases asset and expense accounts, and decreases liability, equity ad revenue accounts
income statement, balance sheet, statement of changes in owner’s equity, and statement of cash flows
customers and other individuals and organizations who owe a company
journal entry at the end of an accounting period to bring an asset or liability account to its proper amount and update the related expense or revenue account
total cost of an asset less its accumulated depreciation
an asset created by selling products or services on credit
method to assign cost to inventory that assumes items are sold in the order acquired
entity created by law and separate from its owners
inflows of assets in exchange for products and services provided to customers as part of a company’s operations
length of time an asset will be productively used in the operations of a business
occurs when expenses exceed revenues
merchandise a company owns and expects to sell in its normal operations
estimate of amount to be recovered at the end of an asset's useful life
expense created by allocating the cost of plant and equipment to periods in which they are used; represents the expense of using an asset
resources owned or controlled by a company that provide expected future benefits to the company
a liability created by buying products or services on credit
obligations due to be paid or settled within the longer of one year of the operating cycle
equals a corporation’s accumulated net income (loss) for all prior periods that has not been distributed to shareholders