A record that summarizes all the characteristics of a single item of the equation.

The computed balance of an account after all debits and credits have been posted.

The name given to any account.

A form that shows the financial position of a business on a specific date.

A balance sheet prepared on the day the business starts.

Any journal used in an accounting system

Any ledger used in an accounting system.

A list of all accounts used by an entity indicating the identifying number, the account title and classification of each accounting equation item.

Any entry made in the right-hand amount column of a general journal.

Anyone to whom a business owes money.

Any entry made in the left-hand amount column of a general journal.

A transaction recorded in a journal.

Contains all the accounts needed to prepare financial statements.

A business form used for recording accounting information in chronological order.

Recording information in chronological order in the journal, using the source document as evidence of the business transaction.

A group of accounts.

Ease of converting an item to cash.

Writing the account name and number as the heading for the account.

The process of transferring the information from a journal entry to the ledger accounts.

A document that provides the necessary information to make a journal entry.

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