What is left over in equity after the closing process.
A current asset
The next step in the accounting cycle, after financial statements are prepared.
Long-term resources used to produce or sell products and services and that lack physical form
List of account balances AFTER adjusting entries have been recorded and posted.
The owner’s claim on the assets
Helps assess the company’s ability to pay its debts in the near future.
Companies prefer to have a _____ current ratio.
Revenue, Expense, Income Summary and Withdrawals are considered _________ accounts because they are closed at the end of the accounting period.
Liabilities or obligations not due within the longer of one year or the company’s operating cycle.
Down
This cycle begins with analyzing transactions and ends with a post-closing trial balance.
Another word for current.
Tangible long-lived assets used to produce or sell products and services
Revenue and Expense accounts are closed here.
Aids the preparation of financial statements but is NOT a required report.
Prepare this statement using asset and liability account from the trial balance; and pull updated capital balance from the statement of owner's equity.
An intangible asset
Assets that are expected to be sold, collected, or used within one year or the company’s operating cycle
Closing entries reset revenue, expense, and withdrawal account balances to ________ at the end of the period.
Payable and Unearned
A plant asset.
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This will get all the words on the grid about 90% of the time, depending on the word list. For the other 10%, you will get an alert explaining that the words that did not fit were added to the scratchpad.
It prints on two pages.
Big puzzles won’t always print on one page — the clues and grid are the smallest we could make them while keeping them readable for everyone.
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