 |
Java Games: Flashcards, matching, concentration, and word search. |
 |
|
Chapter 4 Review Terms
Transactions that Affect Assets, Liabilities, & Owner's Equity
|
| A | B |
|---|
| chart of accounts | a list of all accounts used by a business |
| ledger | a group of accounts |
| double-entry accounting | a system used to analyze and record business transactions |
| debit | left |
| credit | right |
| T account | a tool used to help analyze transactions |
| normal balance | always on the side used to record increases in accounts |
| creditor | the business or person selling you an item on credit |
| accounts receivable | example of an asset |
| accounts payable | example of a liability |
| A = L + OE | accounting equation |
| Bill Gates, Capital | example of an owner's equity account |
|
|
|
|
|
Muskego High School |
| Muskego, WI |
|
|
|
|
|
| |
