Accounting Final Review

Front

A business paper from which information is obtained for a journal entry

Back

source document

Front

A business that performs an activity for a fee

Back

service business

Front

A columnar accounting form used to summarize the general ledger information needed to prepare financial statements

Back

worksheet

Front

Journal entries used to prepare temporary accounts for a new fiscal period.

Back

closing

Front

Transferring information from a journal entry to a ledger account

Back

posting

Front

A proof of the equality of debits and credits in a general ledger.

Back

trial balance

Front

A business owned by one person

Back

sole proprietorship

Front

A trial balance prepared after the closing entries are posted

Back

post-closing trial balance

Front

Accounts used to accumulate information until it is transferred to the owner's capital account

Back

temporary accounts

Front

An accounting device used to analyze transactions

Back

t-accounts