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