across\n1. a record that summarizes all the transactions pertaining to a single item in the accounting…

across\n1. a record that summarizes all the transactions pertaining to a single item in the accounting equation.\n2. an increase in equity resulting from the sale of goods or services\n5. an account used to summarize the owners equity in a business\n8. anything of value that is owned\n11. any business activity that changes assets, liabilities, or owners equity.\n13. the name given to an account.\n14. an amount paid for the use of money for a period of time.\n15. the cost of goods or services used to operate a business.\n17. someone who owns, operates, and takes the risk of a business venture.\n18. the principles of right and wrong that guide an individual in making decisions.\n19 an amount owed.\n20. a formal written document that describes the nature of a business and how it will operate.\ndown\n1. the difference between the increases and decreases in an account\n3. the difference between assets and liabilities.\n4. assets taken from the business for the owners personal use.\n6. the process of planning, recording, analyzing, and interpreting financial information.\n7. interest paid on an original amount deposited in a bank plus any interest that has been paid\n9. a business that performs an activity for a fee.\n10. a business owned by one person.\n12. a person or business to whom a liability is owed.\n16. financial rights to the assets of a business.\nchapter 1 starting a proprietorship: changes that affect the accounting equation • 5

across\n1. a record that summarizes all the transactions pertaining to a single item in the accounting equation.\n2. an increase in equity resulting from the sale of goods or services\n5. an account used to summarize the owners equity in a business\n8. anything of value that is owned\n11. any business activity that changes assets, liabilities, or owners equity.\n13. the name given to an account.\n14. an amount paid for the use of money for a period of time.\n15. the cost of goods or services used to operate a business.\n17. someone who owns, operates, and takes the risk of a business venture.\n18. the principles of right and wrong that guide an individual in making decisions.\n19 an amount owed.\n20. a formal written document that describes the nature of a business and how it will operate.\ndown\n1. the difference between the increases and decreases in an account\n3. the difference between assets and liabilities.\n4. assets taken from the business for the owners personal use.\n6. the process of planning, recording, analyzing, and interpreting financial information.\n7. interest paid on an original amount deposited in a bank plus any interest that has been paid\n9. a business that performs an activity for a fee.\n10. a business owned by one person.\n12. a person or business to whom a liability is owed.\n16. financial rights to the assets of a business.\nchapter 1 starting a proprietorship: changes that affect the accounting equation • 5

Answer

Brief Explanations:

This is a crossword - puzzle related to accounting concepts. Each clue describes a key term in accounting such as accounts, equity, assets, liabilities, etc. By matching the descriptions to the appropriate accounting terms, one can fill in the crossword.

Answer:

Across:

  1. Account
  2. Revenue
  3. Owner's Equity
  4. Asset
  5. Transaction
  6. Account Title
  7. Interest
  8. Expense
  9. Entrepreneur
  10. Ethics
  11. Liability
  12. Business Plan

Down:

  1. Balance
  2. Owner's Equity
  3. Withdrawals
  4. Accounting
  5. Compound Interest
  6. Service Business
  7. Proprietorship
  8. Creditor
  9. Claim