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