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Chapter 2 - Analyzing Transactions

Across
A list of the accounts in the ledger
An account used for proprietorship that represents the owner’s equity
The simplest form of an account
The process of transferring the debits and credits from the journal entries to the accounts
An entry that is prepared when an error has already been journalized and posted
A summary listing of the titles and balances of accounts in the ledger
Increases in assets from performing services or delivering products to customers
Amount entered on the right side of an account
A group of accounts for a business
Down
the resources owned by a business
A claim against the customer created by selling merchandise or services on credit
The initial record in which the effects of a transaction are recorded
The rights of creditors that represent debts of the business
The owner’s right to the assets of the business
Amount entered on the left side of an account
The account used to record amounts withdrawn by an owner of a proprietorship
An accounting form that is used to record the increases and decreases in each financial statement item
Assets used up or services consumed in the process of generating revenues