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10 Cards in this Set

  • Front
  • Back
account
record that shows the increases and decreases of a financial statement
dividends
distribution of earnings to stockholders
left side of the T-account represents?
debits
right side of the T-account represents?
credits
journalizing
process of recording a transaction in the journal - journal entry
double-entry accounting
the sum of the debits is always equal to the sum of the credits in a journal entry
posting
the process of transferring the debits and credits from the journal entries to the account
trial-balance
the proof of the equality of the debit and credit balances
transposition
an error that occurs when the order of the digits is changed mistakenly
slide
an error that occurs when a number is mistakenly moved one or more spaces to the right or left