Term
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Definition
| a record of increases and decreases in specific asset, liability, or stockholders' equity items. (p. 52) |
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Term
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Definition
| a list of accounts and the account numbers that identify their location in the ledger. (p. 62) |
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Term
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Definition
| issued in exchange for the owners' investment paid to the corporation. (p. 54) |
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Term
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Definition
| a journal entry that involves three of more accounts. (p. 59) |
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Term
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Definition
| the right side of an account. (p. 53) |
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Term
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Definition
| the left side of an account. (p. 53) |
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Term
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Definition
| a distribution by a corporation to its stockholders on a pro rata(equal) basis. (p. 55) |
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Term
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Definition
| a system that records in appropriate accounts the dual effect of each transaction. (p. 53) |
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Term
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Definition
| the most basic for of journal. (p. 58) |
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Term
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Definition
| a ledger that contains all asset, liability, and stockholders' equity accounts. ((p. 60) |
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Term
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Definition
| an accounting record in which transactions are initially recorded in chronological order. (p. 58) |
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Term
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Definition
| the entering of transaction data in the journal, (p. 58) |
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Term
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Definition
| the entire group of accounts maintained by a company. (p. 60) |
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Term
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Definition
| an account balance on the side where an increase in the account is recorded. (p. 54) |
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Term
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Definition
| the transfer of journal entries to the ledger accounts. (p. 63) |
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Term
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Definition
| net income that is kept (retained) in the business. (p. 55) |
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Term
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Definition
| a journal entry that involves only two accounts. (p. 59) |
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Term
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Definition
| the basic form of an account. (p. 52) |
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Term
| three-column form of account |
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Definition
| a form with columns for debit, credit, and balance amounts in an account. (p. 71) |
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Term
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Definition
| a list of accounts and their balances at a given time. (p. 71) |
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