Term
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Definition
| Planning, recording, analyzing, and interpreting financial informattion. |
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Term
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Definition
| planned process for providing financial information that will be useful to management. |
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Term
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Definition
| organized summaries of a business's financial activites. |
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| businesses that performs an activity for a fee. |
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Definition
| business owned by one person. |
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Term
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Term
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Definition
| financial rights to the assets of a business. |
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Definition
| amount remaining after the value of all liabilites is subtracted from the value of all assets. |
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Term
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Definition
| Assets=Liability+Owner's Equity |
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Term
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Definition
| business activity that changes assets, liabilites, or owner's equity. |
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Term
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Definition
| applied when business transactions are stated in numbers that have a common values. |
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Term
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Definition
| a record containing all the infomration pertaining to a single item in the accouting equation. |
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Term
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Definition
| name given to an account. |
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Term
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Definition
| the amount in an account. |
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Term
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Definition
| the account used to summarize the owner's equity in a business |
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Term
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Definition
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Term
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Definition
| form for recording transactions in chronolgical order. |
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Term
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Definition
| recording transaction in journal. |
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Term
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Definition
| journal amount column headed with an account title. |
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Term
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Definition
| journal amount that is not headed with an account title. |
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Term
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Definition
| information for each transaction recorded in a journal. |
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Term
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Definition
| recording of debit and credit parts of a transaction. |
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Term
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Definition
| business paper from which information is obtained for a journal entry. |
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Term
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Definition
| a form describing the goods or services sold, the quantity, and the price. |
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Term
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Definition
| invoice used as a source document form recording a sale on account. |
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Term
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Definition
| form on which a brief message is written describing a transaction. |
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Term
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Definition
| a business form giving written acknowledgement for cash received. |
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Term
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Definition
| determining that the amount of cash agrees with accounting records. |
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Term
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Definition
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Definition
| a ledger that contains all accounts needed to prepare financial statements. |
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Term
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Definition
| the number assigned to an account. |
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Term
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Definition
| the procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current. |
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Term
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Definition
| writing an account title and number on the heading of an account. |
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Term
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Definition
| transferring information from a journal entry to a ledger account. |
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Term
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Definition
| amount remaining after the value of all liabilities is subtracted. |
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Term
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Definition
| recording of debit and credit parts of a transaction. |
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Term
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Definition
| a bank account from which payments can be ordered by a depositor. |
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Term
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Definition
| a signature or stamp on the back of a check tranferring ownership. |
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Term
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Definition
| an endorsement consisting only of the endorser's signature. |
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Term
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Definition
| an endorsement indicating a new owner of a check. |
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Term
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Definition
| an endorsement restricting further tranfer of a check ownership. |
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Term
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Definition
| a report of deposits, withdrawals, and bank balances sent to a depositor by a bank. |
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Term
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Definition
| a check that a bank refuses to pay. |
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Term
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Definition
| a check that a bank refuses to pay. |
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Term
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Definition
| a computerized cash payments system that uses electronic impulses to tranfer funds. |
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Term
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Definition
| a bank card that, when making purchases automatically deducts the amount of the purchase from the checking account of the cardholder. |
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Term
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Definition
| an amount of cash kept onhand and used for making small payments. |
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Term
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Definition
| a form showing proof of a petty cash payment. |
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Term
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Definition
| a check with a future date on it. |
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Term
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Definition
| a business in which two or more persons combine their assets and skills. |
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Term
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Definition
| each member of a partnership. |
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Term
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Definition
| a business that purchases and sells goods. |
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Term
| Retail Merchandinsing Business |
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Definition
| a merchandising business that sells to those who use or consume goods. |
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Term
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Definition
| goods that a merchandising business purchases to sell. |
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Term
| Wholesale Merchandising Business |
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Definition
| a business that buys and resells merchandise to retail merchandising business. |
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Term
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Definition
| the price a business pays for goods it purchases to sell. |
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Term
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Definition
| the amount added to the cost of merchandise to establish the selling price. |
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Term
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Definition
| a business from which merchandise is purchased or supplies or other assets are bought. |
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Term
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Definition
| an invoice used as a source document for recording a purchase on account transaction. |
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Term
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Definition
| an agreement between a buyer and a seller about payment for merchandise. |
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Term
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Definition
| the amount remaining after the value of all liabilities is subtracted from the value of all assets. |
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Term
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Definition
| a financial statement that reports assets, liabilities, and owner's equity on a specfic date. |
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