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Answer:

Across
2Net sales minus cost of goods sold equals: a. operating income b. operating expenses c. other expenses d. gross profit
5Debts owed by a business are called:
7increase side of drawing
Down
1An event affecting a business that can be expressed in terms of money and that must be recorded in the accounting records is called a(n):
3T/F When an asset is purchased for cash, the owner's equity account is decreased
4The amount of difference between the total debits and the total credits to an account is called a: a. ruling b. footing c. trial balance d. balance e. none of these
6T/F The term "owner's equity" means the owner's investment
 
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