E2-10 Using accounting vocabulary Match the accounting terms with the corresponding definitions. a. A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period 1. Posting 2. Account 3. Debit b. The record holding all the accounts of a business, the changes in those accounts, and their balances 4. Journal c. A journal entry that is characterized by having multiple debits and/or multiple credits 5. Chart of accounts 6. Trial balance d. A record of transactions in date order 7. Normal balance e. Left side of a T-account 8. Ledger f. Side of an account where increases are recorded 9. Credit g. Transferring amounts from the journal to the ledger 10. Compound journal entry h. Right side of a T-account i. A list of all accounts with their balances at a point in time j. A list of all accounts with their account numbers

E2-10 Using accounting vocabulary Match the accounting terms with the corresponding definitions. a. A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period 1. Posting 2. Account 3. Debit b. The record holding all the accounts of a business, the changes in those accounts, and their balances 4. Journal c. A journal entry that is characterized by having multiple debits and/or multiple credits 5. Chart of accounts 6. Trial balance d. A record of transactions in date order 7. Normal balance e. Left side of a T-account 8. Ledger f. Side of an account where increases are recorded 9. Credit g. Transferring amounts from the journal to the ledger 10. Compound journal entry h. Right side of a T-account i. A list of all accounts with their balances at a point in time j. A list of all accounts with their account numbers

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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