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Analyzing and Recording Transactions

Created by

Natalia Kania
Natalia Kania
United States

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Analyzing and Recording Transactions

by Natalia Kania
1

1 . While companies can use various journals , every company uses a ( n ) .
2 . A ( n ) is a complete record of each transaction in one place .
3 . A ( n ) - represents a ledger account and is used to show the effects of transactions .
4 . demands the an accounting equation remain in balance .
5 . The side is the normal balance side for assets .
6 . Step 4 of accounting cycle is .
7 . Step 3 of accounting cycle is .
8 . identify and describe transactions and events entering the accounting system .
9 . are individuals and organization that have right to receive payments from a company .
10 . is a liability that is recorded when customers pay in advance for products or services .
11 . A ( n ) is also called note receivable .
12 . are amounts owed that are not yet paid .
13 . A ( n ) is a written promissory note to pay a future amount .
14 . is the owner's residual interest in assets of a business after subtracting liabilities .
15 . is the most liquid asset account .