accountinggggggggggggggggggggggg HELP M,E AHHHHHHHHHHHHHHHHHHHHHHH
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Last updated 10:55 PM on 10/4/23
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9 Terms
1
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assests
what you own. equipment, cash in back, accounts receivable.
2
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liabilities
what you owe. accounts payable.
3
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equity
Investment +, withdraw -, revenue +, expenses -
4
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expenses
advertising, rent, utilities, employee pay.
5
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capital
investment, expenses, withdrawal, revenue.
6
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assets equation
assets = liabilities + owners equity
7
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owners equity
financial claim of the owner
8
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accounts recieveable
money a company's customers owe for goods or services they have received but not yet paid for. money the company recieves
9
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accounts payable
business owes money to its suppliers that have provided the business with goods or services on CREDIT. money a business owes.
Note 
Flashcards (35)