Accounting Final Review

A business paper from which information is obtained for a journal entry

• transaction
• balance sheet
• source document
• income statement

A business that performs an activity for a fee

• service business
• retail business
• merchandising business
• proprietorship

A columnar accounting form used to summarize the general ledger information needed to prepare financial statements

• ledger
• journal
• worksheet
• checkbook

Journal entries used to prepare temporary accounts for a new fiscal period.

• closing
• adjusting
• daily
• t-account

Transferring information from a journal entry to a ledger account

• journalizing
• transacting
• trial balance
• posting

A proof of the equality of debits and credits in a general ledger.

• trial balance
• bank reconciliation
• proving cash
• worksheet

A business owned by one person

• corporation
• partnership
• sole proprietorship
• service

A trial balance prepared after the closing entries are posted

• worksheet
• balance sheet
• post-closing trial balance
• income statement

Accounts used to accumulate information until it is transferred to the owner's capital account

• temporary accounts
• permanent accounts
• asset accounts
• income summary

An accounting device used to analyze transactions

• t-accounts
• worksheets
• ledgers
• financial statements