| A | B |
|---|
| LIABILITY | AN AMOUNT OWED BY A BUSINESS. |
| ASSET | ANYTHING OF VALUE THAT IS OWNED. |
| ACCOUNTING EQUATION | AN EQUATION SHOWING THE RELATIONSHIP AMONG ASSETS, LIABILITIES, AND OWNER'S EQUITY. |
| BALANCE SHEET | A FINANCIAL STATEMENT THAT REPORTS ASSETS, LIABILITIES, AND OWNER'S EQUITY ON A SPECIFIC DATE. |
| CAPITAL | THE ACCOUNT USED TO SUMMARIZE THE OWNER'S EQUITY IN THE BUSINESS. |
| PROPRIETORSHIP | A BUSINESS OWNED BY ONE PERSON. |
| ACCOUNTING | PLANNING, RECORDING, ANALYZING AND INTERPRETING FINANCIAL INFORMATION. |
| WITHDRAWALS | ASSETS TAKEN OUT OF A BUSINESS FOR THE OWNER'S PERSONAL USE. |
| CREDIT | AN AMOUNT RECORDED ON THE RIGHT SIDE OF A T ACCOUNT. |
| DEBIT | AN AMOUNT RECORDED ON THE LEFT SIDE OF A T ACCOUNT. |
| T ACCOUNT | A ACCOUNTING DEVICE USED TO ANALYZE TRANSACTOINS. |
| MEMO | A FORM ON WHICH A BRIEF MESSGAE IS WRITTEN DESCRIBING A TRANSACTION. |
| JOURNAL | A FORM FOR RECORDING TRANSACTIONS IN CHRONOLOGICAL ORDER. |
| CHECK | A BUSINESS FORM ORDERING A BANK TO PAY CASH FROM A BANK ACCOUNT. |
| RECEIPT | A BUSINESS FORM GIVING WRITTEN ACKNOWLEDGEMENT FOR CASH RECEIVED. |
| ACCOUNT NUMBER | THE NUMBER ASSIGNED TO AN ACCOUNT. |
| POSTING | TRANSFERRING INFORMATION FROM A JOURNAL ENTRY TO A LEDGER ACCOUNT. |
| PETTY CASH | A AMOUNT OF CASH KEPT ON HAND AND USED FOR MAKING SMALL PAYMENTS. |
| CHECKING ACCOUNT | A BANK ACCOUNT FROM WHICH PAYMENTS CAN BE ORDERED BY A DEPOSITOR. |
| BANK STATEMENT | A REPORT OF DEPOSITS, WITHDRAWALS, AND BANK BALANCE SENT TO A DEPOSITOR BY A BANK. |
