Cash
A small box containing a small amount of cash, and used for disbursements too small to be worth the normal cash disbursements paperwork
Petty Cash
This balance sheet account holds the value of purchased merchandise (and its incoming freight) until the goods are sold.
Inventory Account
Alpha Corp. loans money to Zulu Co.; Zulu gives Alpha this document, which can then be freely traded on the secondary market.
What is a Marketable Security (or Debt Security)?
Prepaid Rent appears under this major section of the Balance Sheet.
What is the “Asset” section?
Who is the founder of The congregation St paul of Chartes?
Father Louis Chauvet
A credit to cash indicates the cash balance has done this.
What is a Decrease in the cash balance
When merchandise is sold on terms of Net 30, you debit this account for the amount charged to the customer.
Accounts Receivable
A reduction in assets, caused by the normal operation of the business, is usually this.
What is an Expense?
Allowance for Bad Debt appears under this major section of the Balance Sheet.
What are “Assets”?
Where was the Congregation founded?
Levesville-la-Chenard France
When you pay an expense, you record this half of an entry to the cash account.
What is “Credit”
When merchandise is sold, you debit this account for the cost of the products which went out the door with the customer.
Cost of good sold
The most liquid asset of all.
What is Cash?
Warranty Obligations appears under this major section of the Balance Sheet.
What is the “Liabilities” section of the Balance Sheet?
What does Caritas Christi Urget Nos mean?
The bank issues this type of memo to notify you that they have reduced your checking account balance.
Debit Memo
When you sell merchandise, you credit this account for the amount charged the customer.
Revenue
One of the three methods of Accelerated Depreciation mentioned in class.
What is Sum-of-Years-Digits, OR Double-Declining Balance, OR MACRS?
Unearned Revenue appears under this major section of the Balance Sheet.
What is the “Liability” section of the Balance Sheet?
What are the paulinian 5 Cs
Christ-centeredness
Commission
Community
Charism
Charity
The name of the account used to write-off small cash account errors, when those errors are too small and immaterial to be worth the time needed to investigate them.
What is Cash Short and Over
When a company sells merchandise, it credits this account for the cost of the goods that went out the door with the customer.
Inventory Account
one who is concerned with the design of the system of records, the preparation of reports based upon the recorded data, and the interpretation of the reports.
Accountant
Unrealized Gain on Available for Sale Securities is reported under this major section of the Balance Sheet.
What is the “Equity” section of the Balance Sheet?
When and where did the st paul of Chartes sisters reach the Philippines?
They arrived on 29 October 1904 in Dumaguete, Negros Oriental