Bookkeeping-V1 Crossword
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
 
 
Down: 2) accelerated method of depreciation when the residual (salvage) value is ignored until the end. The percentage of depreciation taken each year is based on the straingt-line rate multiplied by two3) Always entered in the left hand column of a T-account.4) Items that are not for sale; they are used in operating the business.6) Symbol that shows you where the computer mouse is pointing and indicates where data from the keyboard or other input device will go.7) Method of ensuring that all changes in the business are recorded in the journal.8) Rent charged for the use of money.9) Intangible asset a business gains as it establishes a reputation in the community for reliability and good service.10) Ready each revenue and expense account for the next accounting period, to adjust the owner's equity account by the amount of the profit or loss incurred in the previous period, and to reflect money drawn by the owner for personal use.12) Portions of the corporation's profits that are paid out to stockholders.13) Indicates all activity in a bank account for the month.16) A retirement savings plan that allows an individual to deposit pre-tax dollars. The earnings grow tax free until the money is withdrawn, upon which it is taxed as regular income.17) Current depreciated value of an assets (or of all asset except land). It is determined by subtracting its accumulated depreciation from it cost.19) Represents the ower's equity of the business divided by the number of shares outstanding.20) Cost of doing business; they constitute an outflow of assets.21) Reduction in value of an asset as it is used.23) Another name for the journal. It is the starting place for all bookkeeping.24) Each transaction is recorded twice, as a credit to on account and a debit to another26) Ledger account where money that the owner has withdrawn for his or her personal use is recorded.27) Terms under which a firm sells to its open account (charge) customers. This is also known as the term of sale.28) Account created to summarize the information from all the revenue and expense accounts (and is only used when closing the books). Sometimes called a profit and loss statement (P/L).31) Lists income over a specified period of time, such as a year or a calendar quarter, and subtracts expenses over the same period to show whether a profit was earned or a loss incurred for that time frame. It is also known as a profit and loss statement, or P/L.32) Consists of all commerial activities designed to sell goods and services to customers at a profit.36) Advanced (loaned) money.38) Always entered in the right hand column of a T-account.42) Specific point on a spreadsheet defined by the column and row that it occupies.44) First in/ First out method of assigning wholesale value to inventory. Across: 1) Total cost to manafacture or procure items that were sold at retail.5) Prepared to verify the accuracy of the bank's records and the firm's checking account register.11) One-page summaries of subsidiary accounts, such as the accounts receivable summary account and the accounts payable summary account.14) Shows what the business owns (assets), what it owes (liabilities), and what the owners would have left if the business paid everything it owes out of everything it owns (owner's equity)15) Daily "diary" in which each transaction is recorded. It is also known as the journal.18) Form that the employee receives with each paycheck showing gross earnings for the pay period, itemizing amounts withheld, and showing net wages.22) Balance at the end of an accounting period (usually one year) that reflects changes not previously recorded in day-to-day accounting.25) Tax-deferred investment plan that enables an individual to save a part of his or her income for retirement.29) Where journal entries are transferred and recorded.30) Money owed by customers of the business for goods or services they have purchased on credit.33) Loan in which the interset on the note is paid in advance.34) Most common type of corporation.35) A record that facilitates the completion of quarterly and annual reports to various taxing agencies.37) Cash or items that will become cash in the foreseeable future because they are intended for sale or items the business will comsume within one year.39) Name given for the practice of using notes in journals and ledgers that show where the entries came from.40) Mades when a transaction affects more than two accounts.41) Single index page that is kept to list all the account titles used in daily bookkeeping operations along with their numbers.43) Person or business that creates the check and signs it on its face (the front).45) Any property the business owns, and any claim it has on the property of others.46) What a company currently owes its suppliers and creditors.47) Total of all wages and overtime before taxes and other deductions have been imposed.48) Owners receive payment for any prior years' dividends that were missed before other stockholders receive their payments.49) Running record of all checks written, deposits made, interest earned, and bank charges of fees imposed on a checking account.50) Any debt a business owes.51) Term used to describe the recording of a transaction.52) When the greatest proportion of the expense is taken in the first year, with successively smaller amounts being taken in later years.53) Money or other assets that the owner puts into the business to meet start-up expenses and keep the business running until money from customers begins to come in.
 

 

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