All-purpose chronological record used for recording a business's transactions

The purpose of _________ is to show the effect business transactions have on the accounts in the general ledger.

Results when revenue is larger than expenses.

A report summarizing the effects of various business transactions on the capital account

A net loss ______________ the balance in the owner's capital account.

A financial statement that reports the final balances in all the asset, liability, and owner's equity accounts at the end of the fiscal period.

The information on the statement of changes in owner's equity is used to prepare the _______.

Reports a business's net income or net loss for a fiscal period.

_______________ is the difference between total revenue and total expenses for the period.

Summarize the changes resulting from business transactions that have occurred during a fiscal period.

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