5 Written questions
5 Matching questions
- schedule of accounts payable
- accounts receivable ledger
- plant assets
- merchandise inventory
- a the amount of goods on hand for sale to customers
- b A listing of vendor accounts, account balances, and total amount due all vendors.
- c a subsidiary ledger containing only accounts for charge customers
- d Assets that will be used for a number of years in the operation of a business
- e Earnings distributed to stockholders
5 Multiple choice questions
- the original cost of a plant asset minus accumulated depreciation
- A listing of customer accounts, account balances, and total amount due from all customers.
- A subsidiary ledger containing only accounts for vendors from whom items are purchased or bought on account.
- cumulative amount for all prior years depreciation expense; subtracted from plant and equipment
- an account in a general ledger that summarizes all accounts in a subsidiary ledger
5 True/False questions
current assets → cash and other assets expected to be exchanged for cash or consumed within a year
allowance method of recording losses from uncollectible accounts → accounts receivable that cannot be collected
retained earnings → an amount earned by a corporation and not yet distributed to stockholders
uncollectible accounts → accounts receivable that cannot be collected
book value of accounts receivable → A listing of customer accounts, account balances, and total amount due from all customers.