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Accounting Equation

Mr. Ryba   Accounting
Horizontales
Assets removed from the business for the owner's personal use
A cost used in operating a business that reduces Owner's Equity
The equation that shows the relationship between assets, liabilities & Owner's Equity
Everything affects two or more accounts to stay balanced
The owner's claim on the business's assets
Verticales
Amounts owed to others
Anything of value that can be owned
Any activity that affects the financial condition of a business
The specific account used to summarize the owner's equity in a business
A record that summarizes all the transactions of an item in the accounting equation
The sale of of goods or services that results in an increase in O.E.