| A | B |
|---|
| asset | anything owned |
| liability | anything owed |
| capital | owner's equity |
| revenue | increase in capital from daily operations |
| expenses | decrease in capital from daily operations |
| withdrawals | assets taken out of a business for personal use |
| T account | skeleton of an account |
| debit | listed on the left side |
| credit | listed on the right side |
| postdated | check that has a future date on it |
| outstanding | check that is not yet paid |
| service charge | fee for maintaining an account |
| petty cash | a small amount of cash on hand |
| endorsement | transfers ownership |
| dishonored | a check a bank refuses to pay |
| bank statement | report sent to a depositor |
| reconcile | bring into agreement |
| blank | endorsement consisting of a signature only |
