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11 Cards in this Set

  • Front
  • Back
Source documents
Used to identify and process external
transactions.
Transaction analysis
Determine the dual effect on the accounting
equation.
Journal
Record of the dual effect of a transaction in
debit/credit form.
Posting
Transferring balances from the journal to the
ledger.
Unadjusted trial balance
List of accounts and their balances before
recording adjusting entries.
Adjusting entries
Internal events recorded at the end of a
reporting period.
Adjusted trial balance
List of accounts and their balances after
recording adjusting entries.
Financial statements
Primary means of disseminating information
to external decision makers.
Closing entries
To zero out the owners’ equity temporary
accounts.
Post-closing trial balance
List of accounts and their balances after
recording closing entries.
Worksheet
A means of organizing information; not part
of the formal accounting system.