Fundamentals of Financial Accounting Crossword

Revenues and Expenses are shown on the
A resource that is owned by the company that can be used to provide a future economic benefit
The ______ _______ statement summarizes how changes in balance sheet accounts affect the cash account during the accounting period.
When expenses are greater than revenues.
Money received in advance for services to be performed in the future are reported as _________ revenue.
Interest earned is an example of
This decreases owner's equity
A separate legal entity whose owners are called shareholders or stockholders
The form of organization with unlimited liability
_________ Accounting supports internal users by providing special-purpose reports
The rules that make up acceptable accounting practices
The financial statement showing the change in capital over a period of time
Assets = Liabilities + Equity
Financial statements are to reflect the assumption that the business will continue operating for at least 12 months in the foreseeable future
The ___________ __________ principle states revenue is recognized when earned
Salary for employees is an example of an:
Accounts Payable is an example of a
The financial statement that reports the financial position for a specific point in time
revenues and expenses appear on the _______ statement
A licensed accountant
This GAAP states that a transaction recorded is not later adjusted for changes in currency value or inflation.
Land is purchased for $100,000 and is appraised at $150,000. The ________ _____ is the recorded.
The owner consistently buys personal supplies and charges them to the company. This violates which GAAP?
__________ Accounting serves the needs of external users by providing standardized financial reports