Chapter 9&10
Chapter 11&12
Chapter 13&14
Chapter 15
Chapter 16
100
Goods that a business purchases to sell
What is merchandise
100
A subsidiary ledger containing only accounts for vendors from whom merchandise or other items are purchased on account.
What is an accounts payable ledger
100
Payroll is recorded here
What is a payroll register
100
Income statement information can be found here.
What is a work sheet
100
Completed after adjusting and closing entries are posted.
What is a general ledger
200
Journal used to record only one kind of transaction
What is a special journal
200
An action in which you do to an accounts payable ledger
What is posting
200
A state tax used to pay benefits to unemployed workers.
What is state unemployment tax
200
Total sales less sales discount and sales returns and allowances.
What is net sales
200
How many steps are in the accounting cycle for a merchandising business organized as a corporation
What is 9
300
Sale in which cash is received for the total amount of the sale at the time of the transaction
What is a cash sales
300
An account in a general ledger that summarizes all accounts in a subsidiary ledger.
What is a controlling account
300
Action by a board of directors to distribute corporate earnings to stockholders.
What is declaring a dividend
300
Revenue remaining after cost of merchandise sold has been deducted
What is gross profit on sales
300
The adjusting entry for federal income tax
What is federal income tax payable
400
A form prepared by the vendor showing the amount deducted for returns and allowances.
What is a credit memorandum
400
Total pay due for a pay period during deductions
What is total earnings
400
The 12 month period that ends on June 30th of the prior year
What is a lookback period
400
Relationship between the market value per share and earnings per share of a stock.
What is a price earnings ratio
400
The credit that goes with income summary
What is retained earnings
500
A transaction in which the merchandise purchased is to be paid for later
What is purchase on account
500
They prepare the withholding tables for amount of federal income tax.
What is the internal Revenue Service
500
Recording trial balances happen here.
What is a work sheet
500
Liabilities due within a short time, usually within a year.
What are current liabilities
500
The last step of preparing a post closing trial balance.
What is verifying equality and ruling double lines
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