174. Match the following terms with the appropriate definition. 1. A spreadsheet used to draft an unadjusted trial balance, adjusting entries, adjusted trial balance and financial statements ...

1. A spreadsheet used to draft an unadjusted trial balance, adjusting entries, adjusted trial balance and financial statements

Pro forma statements

2. Accounts that are used to record transactions and events for one accounting period only; they include revenues, expenses and dividends

Closing entries

3. A temporary account used only in the closing process and to where the balances of revenue and expense accounts are transferred

Work sheet

4. Entries recorded at the end of each accounting period to transfer end-of-period balances in revenue, expense and dividends accounts to retained earnings

Operating cycle of a business

5. Statements that show the effects of proposed transactions as if the transactions had already occurred

Temporary accounts

6. Accounts that reflect on activities related to one or more future periods; they include all balance sheet accounts

Permanent accounts

7. A list of permanent accounts and their balances from the ledger after all closing entries are journalized and posted

Accounting cycle

8. Analyses and other informal reports prepared by accountants when organizing the information presented in reports and financial statements

Working papers

9. The time span from when cash is used to acquire goods and services until cash is received from the sale of those goods and services

Post-closing trial balance

10. Recurring steps performed each accounting period, starting with analyzing and recording of transactions in the journal and continuing through the post-closing trial balance

Income summary