accountinggggggggggggggggggggggg HELP M,E AHHHHHHHHHHHHHHHHHHHHHHH

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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.