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Accounting Equation Essentials
 

Crossword Puzzle

Accounting Equation EssentialsOnline version

Key terms from assets, liabilities, and equity

by Muhammad
1

Resources a business owns that provide future benefits.

2

Obligations or debts owed to outsiders.

3

Owners’ claim after all obligations are settled.

4

Balance that shows Assets = Liabilities + Equity.

5

Entities to whom money is owed.

6

Liquid assets used in transactions.

7

Amounts a business owes to suppliers.

8

A written promise to pay a debt.

9

Funds raised by selling ordinary shares.

10

Accumulated profits kept in the business.

11

Earnings from selling goods or services.

12

Costs incurred to earn revenues.

13

Distributions to owners reducing equity.

14

Salaries and wages paid for labor.

15

Cost of borrowing money.

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