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October 8, 2022

Principles of Accounting 1 Credit

Principles of Accounting 1

Credit

Debit

Expenses

Ledger

Liabilities

Stockholders’ Equity

Stockholders’ right to the assets of the business.

Revenues

T Account

Common stock

An account representing the ownership rights of investors in a corporation

Retained Earnings

Dividends

Question 2Double-Entry Accounting System

Journal

Journal Entry

The form of recording a transaction in a journal.

Journalizing

Normal Balance of an Account

Rules of debit and credit

Two-Column Journal

Question 3Accounts Receivable

Four-Column Account

Posting

Unearned Revenue

Question 4Correcting Journal Entry

Horizontal Analysis

Slide

Transposition

Trial Balance

Unadjusted Trial Balance

Quiz

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