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11 Cards in this Set
- Front
- Back
Source documents
|
Used to identify and process external
transactions. |
|
Transaction analysis
|
Determine the dual effect on the accounting
equation. |
|
Journal
|
Record of the dual effect of a transaction in
debit/credit form. |
|
Posting
|
Transferring balances from the journal to the
ledger. |
|
Unadjusted trial balance
|
List of accounts and their balances before
recording adjusting entries. |
|
Adjusting entries
|
Internal events recorded at the end of a
reporting period. |
|
Adjusted trial balance
|
List of accounts and their balances after
recording adjusting entries. |
|
Financial statements
|
Primary means of disseminating information
to external decision makers. |
|
Closing entries
|
To zero out the owners’ equity temporary
accounts. |
|
Post-closing trial balance
|
List of accounts and their balances after
recording closing entries. |
|
Worksheet
|
A means of organizing information; not part
of the formal accounting system. |