Shared Flashcard Set

Details

Title

Chapter 2

Description

Analyzing Transactions into Debit & Credit Parts

Total Cards

Subject

Accounting

Level

12th Grade

Created

09/14/2011

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Additional Accounting Flashcards

Term

T account

Definition

An accounting device used to analyze transactions.

Term

debit

Definition

An amount recorded on the left side.

Term

credit

Definition

An amount recorded on the right side.

Term

normal balance

Definition

The side of the account that is increased.

Term

chart of accounts

Definition

A list of accounts used by a business.