Chapter 14
A written request that an item or items be ordered
Purchase Requisition
The account that represents the total amount of investment in the corporation by its stockholders (owners).
Capital Stock
An amount of money, consisting of
varying denominations of bills and coins, that is
used to make change in cash transactions.
An inventory costing method in which all purchases of an item are added to the beginning inventory of that item; the total cost is then divided by the total units to obtain the average cost per unit.
Weighted Average Cost Method
What is the capital of France?
Paris
A written offer to a supplier to buy specified items
Purchase Order
The value of the stockholders’ claims to the corporation.
Stockholder's Equity
Cash kept on hand for making small, incidental cash payments.
Petty Cash Fund
An electronic cash register.
Point Of Sale Terminal (POS)
What year did WW2 end
1945
A form that lists items included in shipment
Packing Slip
A corporation’s accumulated net income
that is not distributed to stockholders.
Retained Earnings
Any payment made from the
petty cash fund.
Petty Cash Disbursement
Constant, up-to-date Inventory Method
Perpetual
What is the smallest planet in our solar system
Mercury
The buyer's cash discount for early payment of an invoice on account
Purchases discount
A characteristic requiring that accounting information be reasonably free of bias and error.
Reliability
The person responsible for maintaining the
petty cash fund and for making petty cash disbursements.
Petty Cashier
Abreviation for "First In Last Out" and "Last In Last Out"
LIFO and FIFO
Who Painted Mona Lisa
Leonardo Da Vinci
A stamp placed on a creditor’s invoice that outlines
the steps to be followed in processing the invoice
for payment.
Processing Stamp
Accounting characteristic that allows the financial information to
be compared from one period to another period; also allows the comparison of financial information between businesses.
Comparability
A form requesting
money to replenish
the petty cash fund.
Petty Cash Requisition
a system of date-labeled folders or a digital equivalent used to store documents and remind users of upcoming deadlines, tasks, or events.
Tickler File
What kind of animal is Punxsutawney Phil?
A groundhog