Accounting 2 Vocab Chapter 1-4 Crossword

anything of value that is owned
an amount owed by a business
financial rights to the assets of a business
the amount remaining after the value of all liabilities is subtracted from the value of all assets
the owners’ equity in a corporation
an equation showing the relationship among assets, liabilities, and owners’ equity
business papers from which information is obtained for a journal entry
a form for recording transactions in chronological order
a journal used to record only one kind of transaction
a record that summarize all the transactions pertaining to single item in the accounting equation
a group of accounts
a ledger that contains all accounts needed to prepare financial statements
a ledger that is summarized in a single general account
an account in a general ledger that summarizes all accounts in a subsidiary ledger
the procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current
an accounting system showing accounting information for two or more departments
a business that purchases and sells goods
transferring transaction information from a journal entry to a ledger account
a form prepared by the customer showing the price deduction taken by the customer for a return or an allowance
an account that reduces a related account on a financial statement
a deduction that a vendor allows on the invoice amount to encourage prompt payment
when a company that has purchased merchandise on account takes a cash discount
an amount of cash kept on hand and used for making small payments
a form prepared by the vendor showing the amount deducted for returns and allowances
a cash discount on a sale taken by the customer
a specialized computer used to collect, store, and report all the information about a sales transaction
the amount paid to an employee for every hour worked