From the following clues relating to examples used above for assets, liabilities, owner’s equity, revenue and expenses, complete the crossword in figure 1.3.

Across 2 The business owes them for purchases of goods and services not yet paid.
5 A current asset summarising details of what amount is owed to the business and by whom.
6 The printed word you are reading this from is on it and it is included in this expense.
10 This non-current asset is used in the administration area (2 words).
11 A current asset that shows details of who and how much is owed by customers to the business (2 words).
14 An expense for using the mail system.
15 The business has this current asset to sell (3 words).
16 Amounts of cash and inventory taken by the owner.
17 This non-current liability provides funds to the business that must be repaid.
19 The business uses this non-current asset to make goods or products for sale.
20 These non-current assets are sometimes referred to as work stations.
21 A business selling goods calls the goods this, and it’s a current asset.
Down 1 This type of loan requires collateral or security and is a non-current liability.
3 The bank has this current asset but the business owns it.
4 If you don’t like flying, this non-current asset is very good to keep your feet on.
7 A current liability that shows details of who and how much is owed to suppliers by the business (2 words).
8 This current asset is used to pay for goods and services (3 words).
9 Cars, utilities, trucks and forklifts are this non-current asset.
12 This owner’s equity shows what the business is worth and any profit adds to it.
13 A structure that the business may construct and use for its operations; a non-current asset.
18 The same meaning as inventory.

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