ENTREPRENEURSHIP

It describes the original and additional investment of the owner.

• Cash

• Investment

• Accounts Receivable

• Accounts Payable

It describes money, either paper or in coin.

• Cash

• Investment

• Accounts Receivable

• Accounts Payable

It describes collectibles from customers who made sales transactions on credit.

• Cash

• Drawing

• Accounts Receivable

• Accounts Payable

These are assets like chairs, tables, and display cases.

• drawing

• equipment

• utilities expense

• furniture and fixtures

It is referred to the temporary withdrawal of capital by the owner.

• Cash

• Drawing

• Accounts Receivable

• Accounts Payable

These are the expenses on taxes, permits, and licenses.

• drawing

• equipment

• utilities expense

• taxes and licenses

It pertains to the expenses on light and water.

• drawing

• equipment

• utilities expense

• taxes and licenses

It is the book of the original entry where all transactions are chronologically recorded.

• Ledger

• Trial Balance

• General Journal

• Income Statement

It describes the financial obligations arising from goods purchased or services received.

• Cash

• Drawing

• Accounts Receivable

• Accounts Payable

It is a book of accounts considered as the book of the final entry.

• Ledger

• Trial Balance

• General Journal

• Income Statement