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ACC 231, Chapter 2

Across
The left side of an account
A liability created when customers pay before a company provides services or delivers products
A list of all the accounts in the general ledger and their account numbers but with no account balances
A list of all accounts and their balances at a point in time
A record of increases or decreases in a specific asset, liability, equity, revenue, or expense
The process of recording transactions in a journal
The ending balance in this account appears on the Statement of Retained Earnings and on the Balance Sheet
This amount appears on the Income Statement and on the Statement of Retained Earnings
The owner's claim on a company's assets
Obligations to transfer assets or provide services to another entity
A record of all of a company's accounts
A decrease in an asset and/or increase in liabilities when a cost expires in the process of generating revenues
A model of an account that gets its name from the capital letter used to create the model
A complete record of each transaction in one place
Down
A financial statement that shows a company's revenues and expenses and the resulting net income or net loss for a specified time period
These decrease equity but they are NOT an expense
A financial statement that shows a company's assets, liabilities, and equity as of a particular date
When two digits are switched such as 49 erroneously recorded as 94
The right side of an account
The difference between the total debits and total credits for an account, including any beginning balance
Provide evidence for recording transactions such as invoices, receipts, bank statements, and purchase orders
Total liabilities divided by total assets
Resources owned or controlled by a company
An Increase in assets and/or decrease in liabilities from the sale of a company's products or services
Transferring journal entries to accounts in the general ledgere