Question

Match the term with its definition.       -       A.       B.   ...

Match the term with its definition.

      -       A.       B.       C.       D.       E.       F.       G.       H.   

dr
      -       A.       B.       C.       D.       E.       F.       G.       H.   

cr
      -       A.       B.       C.       D.       E.       F.       G.       H.   

Classified Balance Sheet
      -       A.       B.       C.       D.       E.       F.       G.       H.   

Common Stock
      -       A.       B.       C.       D.       E.       F.       G.       H.   

Accounting Equation
      -       A.       B.       C.       D.       E.       F.       G.       H.   

Transaction
      -       A.       B.       C.       D.       E.       F.       G.       H.   

Accounts Payable
      -       A.       B.       C.       D.       E.       F.       G.       H.   

Journal Entry
A.

The abbreviation for an item posted on the right side of a T-account.
B.

A balance sheet that has assets and liabilities categorized as current vs. noncurrent.
C.

Amounts owed to suppliers for goods or services bought on credit.
D.

The expression that assets must equal liabilities plus stockholders' equity.
E.

The abbreviation for an item posted on the left side of a T-account.
F.

The account credited when cash is received in exchange for stock issued.
G.

An exchange or event that has a direct impact on a company's financial statements.
H.

A method of recording a transaction in debit/credit format.
Business   Accounting   
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Homework Answers

Answer #1

dr The abbreviation for an item posted on the left side of a T-account.

cr The abbreviation for an item posted on the right side of a T-account.

Classified Balance Sheet A balance sheet that has assets and liabilities categorized as current vs. noncurrent.

Common Stock   The account credited when cash is received in exchange for stock issued.

Accounting Equation   The expression that assets must equal liabilities plus stockholders' equity.

Transaction   An exchange or event that has a direct impact on a company's financial statements.

Accounts Payable   Amounts owed to suppliers for goods or services bought on credit.

Journal Entry   A method of recording a transaction in debit/credit format.

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