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| Assets=Liabilities+Owner's Equity | The accounting equations is most often stated as ___________. |
| Asset Account | Prepaid Insurance is classified as a(an) __________. |
| Liability Account | When supplies are bought on account, the business to whom money is owed is a __________. |
| Cash | The asset most commonly withdrawn by business owners is ___________. |
| Expense | A decrease in owner's equity resulting from the operation of a business is a(n) ___________. |
| Debit Side | THe normal balance side of an asset account is the _________. |
| Right Side | The vlaues of all equities or claims against the assets (liabilities and owner;s equity) are on the accounting equation's __________. |
| All Transactions | Debits must equal credits in __________. |
| Credit Side | Decreases in asset accounts are shown on a T-Account's _________. |
| Debit Side | Decreases in any liability account are shown on a T-Account's ________. |
| Credit Side | Increases in an owner's capital account are shown on a T-Account's _______. |
| Credit Side | Increases in a revenue account are shown on a T-Account's ________. |
| Asset | THe first digit in the account number 140 means that the account is in the _________ division of the general ledger. |
| Entry Date | The first step in the posting procedure is writing the _________ in the Date column of the account. |
| Blank Endorsement | An endorsement on the back of a check consisting only of a signature is a(an) ____________. |
| Special Endorsement | An endorsement on the back of a check consisting of the words "Pay to the Order of" and a new check owner's name is a(an) __________. |
| Void | If any kind of error is made in preparing a check, this word should be written across the front of the check. |
| Memorandum | The source document for journalizing an electronic funds transfer is a _________. |
| Accounting Period Cycle | Reporting changes in financial information for a specific period of time in the form of financial statements is an application of the accounting concept ___________. |
| Balance Sheet Debit Column | On a worksheet, the balance of Cash is extended to the __________. |
| Balance Sheet Credit Column | On a worksheet, the balance of the Owner;s Capital Account is extended to the __________. |
| For Month Ended July 31, 2011 | The date on a monthly income statement prepared on July 31 is written as ___________. |
| Permanent | Accounts used to accumulate information from one fiscal period to the next are ________ accounts. |
| Matching Expenses with Revenue | Which accounting concept applies when expenses are reported in the same fiscal period that they are used to produce revenue? |
| Post CLosing Trial Balance | THe last step in the accounting cycle is to prepare a(n) ___________. |
