Question
Questions 8, 9, 10, 11, 12, needs to be answered. These questions are fill in the blank. Question 13, has 8 parts that needs fill
Questions 8, 9, 10, 11, 12, needs to be answered. These questions are fill in the blank.
Question 13, has 8 parts that needs fill in the blank.
Questions 14, 15, 16, 17, 18, needs to be answered. These questions are fill in the blank.
The answers choices are blow.
Fill in the blank option for Questions 6-12:
Account
Asset
Assets
Balance
Chart of accounts
Credit
Credits
Cross-Indexing
Debit
Debits
Decreases
Double Entry
Equities
Increases
Journal
Journalizing
Ledger
Left (debit)
Posted
Right (credit)
Trial Balance
Useful information
Fill in the blank options for Questions 13 (1-8): The financial accounting process has been shown to consist of eight steps, namely:
Analyze transaction by examining source documents
Journalize and post adjusting entries.
Journalize and post closing entries
Journalize transactions in the journal.
Post journal entries to the accounts in the ledger.
Prepare a post-closing trial balance.
Prepare a trial balance of the accounts and complete the worksheet.
Prepare financial statements.
Fill in the blank option for Questions 14-18:
Account
Asset
Assets
Balance
Chart of accounts
Credit
Credits
Cross-Indexing
Debit
Debits
Decreases
Double Entry
Equities
Increases
Journal
Journalizing
Ledger
Left (debit)
Posted
Right (credit)
Trial Balance
Useful information
Show transcribed image text
8. account The basic unit in which data are stored in an accounting system is called an _. These storage units should be so constructed as to readily receive money measurements of the or in the items for which they are established. 9. 10. useful information balance Whether or not an account is established is determined largely by whether or not it will provide The difference between the amounts entered as increases in an account and those entered as decreases is called the of the account. 11. 12. 13. Since revenues increase Retained Earnings, and increases in Retained Earnings are recorded on the side of the account, it follows that increases in revenues are recorded on the side of the account. Since expenses decrease Retained Earnings and since decreases in Retained Earnings are recorded on the side of the account, it follows that increases in expenses are recorded on the side of the account. The financial accounting process has been shown to consis of eight steps, namely: 1. 2. 3. 4. 5. 6. 7. 8. A is often called a book of original entry and contains a chronological record of the transactions of a business. Before a transaction can be entered in this book of original entry, its effects on the business must be determined and encoded in terms of and 14. 15. The properties used by a business are known as ; whereas the rights in the properties of a business are known as 16. 17. 18. A sale made to a customer or client is recorded as an increase in a revenue account and an increase in an account. The total assets of the Miller Service Company are $22,000 and the total liabilities are $10,000. Therefore, the total stockholders' equity is An entry on the left side of an account is known as aStep by Step Solution
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