chapters 6,7,9 Flashcards
1
Q
Journal
A
book in which accounting entries are first recorded before the ledger
2
Q
Source documents
A
business paper that verifies the dollar amount of a transaction. used to have proof that the transaction was made.
3
Q
Financial statement
A
to show account status of assets, liabilities, equity
4
Q
Balance sheet
A
to show buinesses financial position
5
Q
income statement
A
to show companies revenue and expenses
6
Q
trial balance
A
listing of the account balances in a ledger. let us know if we are balanced.
7
Q
Point of sale summary
A
point in which transaction was complete.
8
Q
sales tax
A
tax dollars generated from transactions
