Bookkeeping

अब Quizwiz के साथ अपने होमवर्क और परीक्षाओं को एस करें!

__________-entry bookkeeping means that every transaction will affect two or more accounts.

Double

Accrued expenses are likely to pertain to transactions that have __________ been paid.

Not yet

A listing of the balances in the accounts in order to determine whether debits are equal to credits is a __________ balance.

Trial

A supplier of goods or services is known as a __________.

Vendor

The two main methods of bookkeeping and accounting are 1) the cash method, and 2) the __________ method.

Accrual

Deferred revenues likely involve cash amounts that have __________ been received.

Already

The listing of accounts that are available for posting transactions is the __________ of accounts.

Chart

The separation of duties is part of the internal __________ for safeguarding assets.

Controls

Liability accounts will normally have __________ balances.

Credit

Revenue accounts will normally have __________ balances.

Credit

When a check is written, a cash account should be __________.

Credited

Cash and Accounts Receivable are two examples of accounts that are reported on the classified balance sheet under the heading __________ assets.

Current

A __________ amount will appear on the left side of a T-account.

Debit

The bookkeeping or accounting equation is Assets = Liabilities + Owner's __________.

Equity

The book of original entry is the definition of a __________.

Journal

Asset, __________, and stockholders' equity accounts are known as balance sheet accounts.

Liability

When a sale is made on credit, the seller will debit the asset account Accounts __________.

Receivable

The difference between the balance in a company's cash account and its bank statement is documented in the __________ of the bank statement.

Reconcilliation

Large corporations should report revenues on their income statements when the __________.

Revenues are earned

A __________ entry typically removes an accrual-type adjusting entry that had been recorded in the preceding accounting period.

Reversing


संबंधित स्टडी सेट्स

french questions with qui and que

View Set

Chapter 25 The Cardiovascular System

View Set

Macroeconomics - Chapter 10 Review

View Set

Ch. 5 - Security and Payment Systems (E-Commerce)

View Set