Accounting Basics v.3


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Solution
Across
  •  1  This type of statement shows assets, liabilities, and equity

  •  3  Will increase a liability

  •  4  A form of business in which the company, and not the owners, is liable for the business's debts; owners are called members for this form of organization

  •  5  An adjustment for the payment of an item in advance or the receipt of cash in advance

  •  7  Type of accounting that focuses on providing relevant and accurate accounting information to decision makers outside of an organization, such as investors and creditors

  •  9  Economic resources that are expected to produce a benefit in the future

  • 12 Allocates the cost of a plant asset to expense over the asset's useful life

  • 13 A debt

  • 14 This type of statement reports how much revenues, expenses, gains, and losses the company had for a period of time

  • 15 The amount earned by income-producing activities and kept for use by the business.

  • 16 Will increase an asset

  • Down
  •  2  Amounts due from customers

  •  3  Amount of debts due within 12 months

  •  6  Type of business organization that has one owner who is personally liable

  •  8  Current assets / Current liabilities

  • 10 Type of accounting that provides information to users inside the organization, such as managers and other decision makers

  • 11 Sales revenue minus cost of goods sold

  • 12 Distributions of earnings to shareholders, usually in cash

  • Created with Raphaël 2.3.0
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