Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Match the items below by entering the appropriate code letter in the space provided. An entry that involves three or more accounts Transferring journal entries

Match the items below by entering the appropriate code letter in the space provided.

An entry that involves three or more accounts

Transferring journal entries to ledger accounts

The side which increases an account

A list of all the accounts used by an enterprise

A record of increases and decreases in specific assets, liabilities, and stockholdersl items

Left side of an account

An entry that involves only two accounts

A book of original entry

A list of accounts and their balances at a given time

Has a credit normal balance

Activities of an entity must be kept separate from its owner’s activities

Consumed assets or services

Ownership is limited to one person

.

Offers expert accounting service to the general public

Creditor and ownership claims against the assets of the business

A separate legal entity under state laws

Government agency that can mandate accounting rules

Quantifying goals and objectives

Future economic benefits

Economic events recorded by accountants

A.

Proprietorship

B.

Normal account balance

C.

Economic Entity Assumption

D.

Expenses

E.

Journal

F.

Revenue account

G.

Posting

H.

Budgeting

I.

Debit

J.

Trial balance

K.

Equities

L.

Simple entry

M.

Corporation

N.

Chart of accounts

O.

SEC

P.

Assets

Q.

Account

R.

Transaction

S.

CPA

T.

Compound entry

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Here is the matching of items with their corresponding code letters Match Item Code Letter An entry ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting A Contemporary Approach

Authors: David Haddock, John Price, Michael Farina

3rd edition

77639731, 978-0077639730

More Books

Students also viewed these Accounting questions

Question

What is a check?

Answered: 1 week ago