right side of a t account
assets = liabilities + owners equity
something owned
something owed
the owner's account
the merchandise account
arranging accounts in the general ledger
transfering data from the journal to the ledger
recording transactions in chronological order
prepared when putting money in a bank
'pay to the order of' is an example of this
transferring ownership of a check
accounts used to accumulate info from one fiscal period to the next
these accounts begin each fiscal period with a 0 balance
occurs when total expenses are greater than total revenues
source doc for a cash purchase
small amount of cash kept on hand for small purchases
'for deposit only' is an example of this
occurs when revenues are greater than expenses
buying items now but paying for them later
cash increases with a ...
proves debits and credits equal
accounts payable increases with a...
group of accounts
info for a trial balance is taken from here
the left side of a t account
classification of a petty cash account
assets, liabilities, and owner's equity accts are reported on the
occurs when the amt in petty cash is less than the recorded amount
revenue and expense accounts are reported on the