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Accounting 1 Ch. 6 Vocab
Terms in this set (8)
The length of time for which a business summarizes and reports financial information.
A columnar accounting form used to summarize the general ledger information needed to prepare financial statements
A proof of the equality of debits and credits in a general ledger
Changes recorded on a work sheet to update general ledger accounts at the end of a fiscal period
A financial statement that reports assets, liabilities, and owner's equity on a specific date.
A financial statement showing the revenue and expenses for a fiscal period.
Difference between total revenue and total expenses when total revenue is greater
The difference between total revenue and total expenses when total expenses are greater
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