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End of the Accounting Cycle

(2 words)Click to add a header
Horizontales
A record containing all the accounts used by a business. (2 words)
An owner's equity account that represents the owner's investment in the business, plus net income, less net losses and withdrawals. (2 words)
The process of transferring temporary account balances to permanent accounts at the end of an accounting period.
Reports that summarize the financial performance and position of a company, including the income statement, statement of owner's equity, and balance sheet. (2 words)
Changes made to account balances at the end of an accounting period to reflect correct balances.
Accounts that accumulate data over more than one accounting period and whose balances are carried forward to the next period.
Verticales
A chronological record of all business transactions. (2 words)
A multicolumn form used to summarize the effects of all transactions and adjustments.
A list of all accounts in the general ledger with their balances at a specific date, prepared to prove the equality of debits and credits. (2 words)
A temporary account used during the closing process to summarize all revenues and expenses. (2 words)
Accounts that accumulate data related to one accounting period and are closed at the end of that period.