 |
Java Games: Flashcards, matching, concentration, and word search. |
 |
|
Chapter 4 Transactions Affecting Assets, Liabilities, and Owner's Equity - Key Terms
|
| A | B |
|---|
| Ledger | A book containing a separate page for each business account; serves as a permanent record of financial transactions |
| Chart of Accounts | A list of all accounts and their assigned account numbers used by a business |
| Credit | An amount entered on the right side of the T account |
| Debit | An amount entered on the left side of the T account |
| Double-entry accounting | A financial recordkeeping system in which each transaction affects at least two accounts; for each debit there must be an equal credit. |
| T Account | A tool used to analyze transactions |
| Normal Balance | The side of the account that is increased. |
| Liabilities | The debts of a business |
|
|
|
|
|
Computer Applications I |
SWHS |
| High Point, NC |
|
|
|
|
|
| |
