 data entry (recording)

o the committing of a business transaction and the events surrounding such into writing
 debit
o the left side of a standard account
 debit balance
o a condition that occurs when the total of the debits in an account is larger than the total
of the credits in that account
 debit memorandum
o items the bank deducts from the account balance
 debtor
o the business or individual who owes a debt
 deposits in transit
o deposits that have been made and added to depositor's checkbook, but which have not
yet been listed on the bank statement
 deposit ticket/deposit slip
o a bank form which lists those cash items (currency and coin) and individual checks to be
deposited
 depreciation
o the loss in value of a fixed asset due to wear and tear and the passage of time;or a
method of matching the cost of a fixed asset against the revenues that the fixed asset will
help produce during its useful life
 depreciation expense
o that portion of the orignal cost of a fixed asset that is assigned as an expense to the
reporting period expected to benefit from it use
 disbursement
o a payment
 discount period
o a specific number of days during which a discount is available if the account is paid
 dishonored check
o a check not paid by the bank when properly presented
 double entry accounting/double entry bookkeeping
o a process of recording equal debits and credits for a single business transaction
 Dr.
o the abbreviation for debit
 Drawee
o a person or concern, usually a bank, that has been ordered to make a payment of a
check or draft
 Drawer
o a person (depositor) who signs a check, ordering a payment made
 drawing account/owner withdrawl
o a separate owner's equity accoung in which withdrawls of cash or other assets by the
owner for personal use are recorded
 employee
o one who is under the control and direction of an employer with regard to the performance
of employment
 endorsement (indorsement)
 o the signature of the payee or other holder placed on the back of a check or other
negotiable instrument
 endorser
o a person or company whose name is written on the back of a check
 E.O.M
o end of month
 expense
o a decrease in assets, other than withdrawls by the owner, which result from efforts to
produce revenues
 face of note
o the principle sum the maker of a note promises to pay
 federal income tax withholding
o the amount that an employer must withhold from an employee's pay for income tax
purposes
 federal insurance contributions act
o the federal act which requires most employers and employees to pay taxes to support the
federal social security program
 federal umemployment tax act
o the federal act imposed upon each employer for the purpose of financing the
administration costs of the federal and the state unemployment compensation programs
 F.I.C.A
o abbreviation for Federal Insurance Contributions Act
 final processing/reporting
o the process of communicating the results achieved during an accounting period to others
 fiscal period
o a period of time covered by an income statement
 fixed assets/long term assets
o property of a relatively permanent nature used in the operation of a business and not
intended for resale
 fixed liabilities/long term liabilities
o liabilities that are not due and payable within one year
 footing/pencil footing
o a total, written in small pencil figures, under the last entry in a column of an account
 F.U.T.A
o Federal Umemployment Tax Act
 general journal
o a book of original entry in which business transactions are recorded in chronological
order
 general ledger
o the book of accounts
 gross earnings/gross pay
o income before any deductions have been made
 gross profit/gross margin
o net sales minus the cost of goods
 gross profit percentage
o gross profit divided by net sales