| Claims by creditors to the property (assets) of a business |
|
|
| Properties used in the operation of a business |
|
|
| Owner's rights and claims to the property (assets) of a business |
|
|
| Increases to owner's equity resulting from business operations |
|
|
| Decreases to owner's equity resulting from business operations |
|
|
| Decreases to owner's equity resulting from owner withdrawals |
|
|
| A financial event recorded in the books of a business |
|
|
| Every transaction is recorded in at least two places (accounts) |
|
|
| Record for each asset, liability,revenue, and expense |
|
|
| A book containing all the accounts and balances of a business |
|
|
| Record where business transactions are first recorded |
|
|
| A worksheet listing all of the general ledger account balances |
|
|
| Statement of a business's assets, liabilities, and owner's equity |
|
|
| Statement that summarizes revenues and expenses |
|
|
| A coded listing of all the accounts in the general ledger |
|
|
| Amount a business's revenues exceed expenses |
|
|
| Amount a business's expenses exceed revenues |
|
|
| Process of transferring journal balances to the general ledger |
|
|