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5 Written questions

5 Matching questions

  1. Subsidiary ledger
  2. straight-line method of depreciation
  3. schedule of accounts payable
  4. book value
  5. book value of accounts receivable
  1. a a ledger that is summarized in a single general ledger account
  2. b the difference between the balance of accounts receivable and its contra account, allowance for uncollectible accounts
  3. c the difference between an asset's account balance and its related contra account balance
  4. d A listing of vendor accounts, account balances, and total amount due all vendors.
  5. e charging an equal amount of depreciation expense for a plant asset in each year of useful life

5 Multiple choice questions

  1. cumulative amount for all prior years depreciation expense; subtracted from plant and equipment
  2. A subsidiary ledger containing only accounts for vendors from whom items are purchased or bought on account.
  3. cash and other assets expected to be exchanged for cash or consumed within a year
  4. a subsidiary ledger containing only accounts for charge customers
  5. the original cost of a plant asset minus accumulated depreciation

5 True/False questions

  1. dividendsthe difference between an asset's account balance and its related contra account balance

          

  2. estimated salvage valuecumulative amount for all prior years depreciation expense; subtracted from plant and equipment

          

  3. retained earningsEarnings distributed to stockholders

          

  4. allowance method of recording losses from uncollectible accountsCrediting the estimated value of uncollectible accounts to a contra account

          

  5. board of directorsa group of persons elected by the stockholders to manage a corporation

          

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