Page 40

CLICK HERE TO ACCESS FULL VERSION

181) Match the following definitions and terms by placing the letter that identifies the best definition in the blank space next to the term. ____ 1. Source documents ____ 2. Debit ____ 3. Posting ____ 4. Double-entry accounting ____ 5. Ledger ____ 6. Journal ____ 7. Account ____ 8. Credit ____ 9. T-account ____ 10. Trial balance A. Decrease in an asset, owner withdrawal and expense account, and increase in a liability, owner's capital and revenue account; recorded on the right side of a T-account. B. A record containing all the accounts of a company and their balances. C. An accounting system where each transaction affects and is recorded in at least two accounts; the sum of the debits for each entry must equal the sum of its credits. D. A company's record of each transaction in one place that shows debits and credits for each transaction. E. An increase in an asset and expense account, and decrease in a liability, owner's capital, and revenue account; recorded on the left side of a T-account. F. A record of the increases and decreases in a specific asset, liability, equity, revenue, or expense item. G. A representation of a ledger account used to understand the effects of transactions. H. A list of accounts and their balances at a point in time. I. The process of transferring journal entry information to the ledger accounts. J. Identify and describe transactions and events entering the accounting system.

39 Copyright 2019 Š McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

Profile for rami talalweh

Test Bank for Fundamental Accounting Principles 24th Edition Wild  

Fundamental Accounting Principles 24th Edition Wild Test Bank 2019 (9781259916960) (1259916960). Instant test bank download. Download from h...

Test Bank for Fundamental Accounting Principles 24th Edition Wild  

Fundamental Accounting Principles 24th Edition Wild Test Bank 2019 (9781259916960) (1259916960). Instant test bank download. Download from h...

Advertisement