Show:
Corporations
Purchases
Merchandise
Potpourri
Journalize This
100
An organization with the legal rights of a person and which many persons may own
What is a corporation
100
A transaction in which the merchandise purchased is to be paid for later.
What is a purchase on account
100
Goods that a business purchases to sell
What is merchandise
100
A petty cash on hand amount that is less than a recorded amount
What is cash short
100
Bought supplies on account from Yukon Outfitters
What is General Journal, Debit Supplies, Credit Accounts Payable/Yukon Outfitters
200
Each unit of ownership in a corporation
What is a share of stock
200
A cash discount on purchases taken by a customer
What is a purchases discount
200
A business that purchases and sells goods
What is a merchandising business.
200
An account that reduces a related account on a financial statement
What is a contra account
200
Purchased merchandise on account from Wixom Sports
What is the Purchases Journal, Debit Purchases, Credit Accounts Payable/Wixom Sports
300
Total shares of ownership in a corporation
What is capital stock
300
Credit allowed for part of the purchase price of returned merchandise, resulting in a decrease in the customers accounts payable
What is purchases returns and allowances
300
A business from which merchandise is purchased or supplies or other assets are bought
What is a vendor
300
A journal amount column headed with an account title
What is a special amount column
300
Returned Merchandise to Tri-County Suppliers
What is General Journal, Debit Accounts Payable/Tri-County Suppliers, Credit Purchases Returns and Allowances
400
An owner of one or more shares of a corporation
Who is a stockholder
400
A reduction in the list price granted to customers.
What is a trade discount
400
The amount added to the cost of merchandise to establish the selling price
What is markup
400
The retail price listed in a catalog or on an internet site
What is list price
400
Paid cash to replenish the petty cash fund; supplies, miscellandous, cash over
What is Cash Payments Journal, Debit Miscellaneous Expense and Supplies, Credit Cash Short and Over and Cash
500
This form of business exists independent of its owners
What is a corporation.
500
An invoice used as a source document for recording a purchase on account transaction
What is a purchase invoice
500
The price a business pays for goods it purchases to sell
What is the cost of merchandise
500
A form prepared by the customer showing the price deduction taken by the customer for returns and allowances
What is a debit memorandum
500
Paid cash on account to Wixom sports, less purchases discount
What is the Cash Payments Journal, Debit Accounts Payable/Wixom Sports, Credit Cash and Purchases Discount