5 Written questions
5 Matching questions
- Sales Return
- Capital Stock
- Cash Short
- Accounts Receivable Ledger
- Current Assets
- a total amount of a firm's capital, represented by the value of its issued common and preferred stock (ordinary and preference shares).
- b A subsidiary ledger containing only accounts for charge customers.
- c any asset expected to last or be in use for less than one year.
- d A petty cash on hand amount that is less than a recorded amount.
- e credit allowed a customer for the sale price of returned merchandise, resulting in a decrease in the vendor's accounts receivable.
5 Multiple choice questions
- A sale in which cash is received for the total amount of the sale at the time of the transaction.
- the price a business pays for goods it purchases to sell.
- The retail price listed in a catalog or on an Internet site.
- credit allowed for part of the purchase price of merchandise that is not returned, resulting in a decrease in the customer's accounts payable.
- The report that summarizes the cash and credit card sales of a point-of-sale terminal.
5 True/False questions
Retail Merchandising Business → a merchandising business that sells to those who use or consume the goods.
Inventory → a business from which merchandise is purchased or supplies or other assets are bought.
Owner's Equity Statement → a financial statement that summarizes the changes in owner's equity during a fiscal period.
Stockholder → An owner of one or more shares of a corporation.
Accounts Payable Ledger → A subsidiary ledger containing only accounts for vendors from whom items are purchased or bought on account.