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5 Written questions

5 Matching questions

  1. accumlated depreciation
  2. schedule of accounts receivable
  3. book value
  4. Subsidiary ledger
  5. declaring a dividend
  1. a action by a board of directors to distribute corporate earnings to stockholders
  2. b cumulative amount for all prior years depreciation expense; subtracted from plant and equipment
  3. c a ledger that is summarized in a single general ledger account
  4. d the difference between an asset's account balance and its related contra account balance
  5. e A listing of customer accounts, account balances, and total amount due from all customers.

5 Multiple choice questions

  1. a subsidiary ledger containing only accounts for charge customers
  2. Earnings distributed to stockholders
  3. Crediting the estimated value of uncollectible accounts to a contra account
  4. the original cost of a plant asset minus accumulated depreciation
  5. the amount an owner expects to receive when a plant asset is removed from use

5 True/False questions

  1. retained earningsAssets that will be used for a number of years in the operation of a business

          

  2. book value of accounts receivableA listing of customer accounts, account balances, and total amount due from all customers.

          

  3. uncollectible accountsaccounts receivable that cannot be collected

          

  4. Accounts payable ledgerA subsidiary ledger containing only accounts for vendors from whom items are purchased or bought on account.

          

  5. depreciation expensethe portion of a plant asset's cost that is transferred to an expense account in each fiscal period during a plant asset's useful life

          

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