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Study sets matching "1 quiz chapter 5 accounting"

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Study sets matching "1 quiz chapter 5 accounting"

20 terms
Accounting 1 Chapter 5
postdated check
voided check
bank statement
canceled check
a check with a future date on it
a check that cannot be processed because the maker has made i…
a report of deposits, withdrawals, and bank balances sent to…
a check which has been paid by the bank
postdated check
a check with a future date on it
voided check
a check that cannot be processed because the maker has made i…
19 terms
Accounting 1 Chapter 5
accounting clerk
bank statement
blank endorsement
canceled check
An accounting worker who processes routine details about acco…
A report of deposits, withdrawals, and bank balances sent to…
An endorsement consisting only of the endorser's signature.
A check which has been paid by the bank.
accounting clerk
An accounting worker who processes routine details about acco…
bank statement
A report of deposits, withdrawals, and bank balances sent to…
19 terms
Accounting Chapter 5
Checking Account
endorsment
special endorsment
restrictive endorsment
A blank account from which payments can be ordered by a depos…
A signature or stamp on the back of a check transferring owne…
An endorsment indicating a new owner of a check
An endorment restricting further transfer of a checks ownership
Checking Account
A blank account from which payments can be ordered by a depos…
endorsment
A signature or stamp on the back of a check transferring owne…
18 terms
Accounting 1 Chapter 5 Terms
dishonored check
postdated check
petty cash slip
checking account
A check that a bank refuses to pay
A check with a future date
A form showing proof of a petty cash payment.
A bank account from which payments can be ordered by a deposi…
dishonored check
A check that a bank refuses to pay
postdated check
A check with a future date
20 terms
Accounting 1 Chapter 5
postdated check
voided check
bank statement
canceled check
a check with a future date on it
a check that cannot be processed because the maker has made i…
a report of deposits, withdrawals, and bank balances sent to…
a check which has been paid by the bank
postdated check
a check with a future date on it
voided check
a check that cannot be processed because the maker has made i…
20 terms
Arkansas Accounting 1 Chapter 5
postdated check
voided check
bank statement
canceled check
a check with a future date on it
a check that cannot be processed because the maker has made i…
a report of deposits, withdrawals, and bank balances sent to…
a check which has been paid by the bank
postdated check
a check with a future date on it
voided check
a check that cannot be processed because the maker has made i…
25 terms
Accounting 1 - Chapter 5
dishonored check
postdated check
petty cash slip
Checking account
A check that a bank refused to pay.
A check with a future date on it.
A form showing proof of a petty cash payment.
A bank account from which payments can be ordered by a deposi…
dishonored check
A check that a bank refused to pay.
postdated check
A check with a future date on it.
19 terms
Accounting 1 Chapter 5 Terms
dishonored check
postdated check
petty cash slip
checking account
A check that a bank refuses to pay
A check with a future date on it
A form showing proof of a petty cash payment.
A bank account from which payments can be ordered by a deposi…
dishonored check
A check that a bank refuses to pay
postdated check
A check with a future date on it
13 terms
Accounting I - Chapter 5
bank statement
blank endorsement
checking account
code of conduct
a report of deposits, withdrawals, and bank balances sent to…
an endorsement consisting only of the endorser's signature
a bank account from which payments can be ordered by a deposi…
a statement that guides the ethical behavior of a company and…
bank statement
a report of deposits, withdrawals, and bank balances sent to…
blank endorsement
an endorsement consisting only of the endorser's signature
19 terms
Accounting 1 - Chapter 5 (10e) Term You Need to Know
Accounting clerk
Bank statement
Blank endorsement
Canceled check
An accounting worker who processes routine details about acco…
A report of deposits, withdrawals, and bank balances sent to…
An endorsement consisting only of the endorser's signature.
A check which has been paid by the bank.
Accounting clerk
An accounting worker who processes routine details about acco…
Bank statement
A report of deposits, withdrawals, and bank balances sent to…
13 terms
Accounting 1 9e Chapter 5
code of conduct
checking account
endorsement
blank endorsement
Statement that guides the ethical behavior of a company and i…
Bank account from which payments can be ordered by a depositor
Signature or stamp on the back of a check transferring owners…
Endorsement consisting only of the endorser's signature
code of conduct
Statement that guides the ethical behavior of a company and i…
checking account
Bank account from which payments can be ordered by a depositor
32 terms
Accounting 1 - Chapter 5 Accounting for Merchandising Operations
Administrative Expenses
Cost of Goods Sold
FOB Destination
FOB Shipping Point
Expenses incurred that are not related to marketing the compa…
The total cost of merchandise sold during the period.
Freight terms indicating that the seller places the goods fre…
Freight terms indicating that the seller places the goods fre…
Administrative Expenses
Expenses incurred that are not related to marketing the compa…
Cost of Goods Sold
The total cost of merchandise sold during the period.
13 terms
9e Accounting 1 Chapter 5
code of conduct
checking account
endorsement
blank endorsement
Statement that guides the ethical behavior of a company and i…
Bank account from which payments can be ordered by a depositor
Signature or stamp on the back of a check transferring owners…
Endorsement consisting only of the endorser's signature
code of conduct
Statement that guides the ethical behavior of a company and i…
checking account
Bank account from which payments can be ordered by a depositor
20 terms
Arkansas Accounting 1 Chapter 5
postdated check
voided check
bank statement
canceled check
a check with a future date on it
a check that cannot be processed because the maker has made i…
a report of deposits, withdrawals, and bank balances sent to…
a check which has been paid by the bank
postdated check
a check with a future date on it
voided check
a check that cannot be processed because the maker has made i…
18 terms
Accounting 1- Chapter 5
checking account
deposit slip
postdated check
endorsements
a bank account from which payments can be ordered by a deposi…
a bank form which lists the checks, currency, and coins an ac…
a check with a future date on it
a signature or stamp on the back of a check transferring owne…
checking account
a bank account from which payments can be ordered by a deposi…
deposit slip
a bank form which lists the checks, currency, and coins an ac…
13 terms
Accounting I - Chapter 5
code of conduct
checking account
endorsement
blank endorsement
A statement that guides the ethical behavior of a company and…
A bank account from which payments can be ordered by a deposi…
A signature or stamp on the back of a check transferring owne…
An endorsement consisting only of the endorser's signature.
code of conduct
A statement that guides the ethical behavior of a company and…
checking account
A bank account from which payments can be ordered by a deposi…
13 terms
Accounting 1 Chapter 5
Code of Conduct
Checking Account
Endorsement
Blank Endorsement
A statement that guides the ethical behavior of a company and…
A blank account from which payments can be ordered by a depos…
A signnature or stamp on the back of a check transferring own…
An endorsement consisting only of the endorser's signature.
Code of Conduct
A statement that guides the ethical behavior of a company and…
Checking Account
A blank account from which payments can be ordered by a depos…
15 terms
Chapter 5 Accounting 1
Accounts Receivable
Aging Schedule
Write-Offs
Sales Allowance
the amount of cash owed to the company by its customers from…
??
??
seller reduces the customer's balance owed or provides at lea…
Accounts Receivable
the amount of cash owed to the company by its customers from…
Aging Schedule
??
13 terms
Accounting 1 Chapter 5
Code of Conduct
Checking Account
Endorsement
Blank Endorsement
a statement that guides the ethical behavior of a company and…
a bank account from which payments can be ordered by a deposi…
a signature or stamp on the back of a check transferring owne…
an endorsement consisting consisting of only the endorser's s…
Code of Conduct
a statement that guides the ethical behavior of a company and…
Checking Account
a bank account from which payments can be ordered by a deposi…
13 terms
Accounting 1 Chapter 5
Code of Conduct
Checking Account
Endorsement
Blank Endorsement
A statement that guides the ethical behavior of a company and…
A blank account from which payments can be ordered by a depos…
A signnature or stamp on the back of a check transferring own…
An endorsement consisting only of the endorser's signature.
Code of Conduct
A statement that guides the ethical behavior of a company and…
Checking Account
A blank account from which payments can be ordered by a depos…
Accounting 1- Chapter 5
4 inventory costing methods allowed by…
Special identification
FIFO First in, First out
LIFO Last in, First out
the way costs are assigned when removed from the inventory an…
costs assigned to the inventory items when sold are the actua…
assumes earliest inventory costs, oldest layers, are assigned…
assumes most recent inventory costs, newest layer, are assign…
4 inventory costing methods allowed by…
the way costs are assigned when removed from the inventory an…
Special identification
costs assigned to the inventory items when sold are the actua…
18 terms
Accounting 1 Chapter 5
checking account
deposit slip
endorsement
blank endorsement
A bank account from which payments can be ordered by a deposi…
A bank form which lists the checks, currency, and coins an ac…
A signature or stamp on the back of a check transferring owne…
An endorsement consisting only of the endorser's signature.
checking account
A bank account from which payments can be ordered by a deposi…
deposit slip
A bank form which lists the checks, currency, and coins an ac…
12 terms
Accounting 1 Chapter 5
Code of conduct
Checking Account
Endorsement
Blank endorsement
A statement that guides the ethical behavior of a company and…
A bank account from which payments can be ordered by a deposi…
A signature or stamp on the back of a check transferring owne…
An endorsement consisting only of the endorser's signature
Code of conduct
A statement that guides the ethical behavior of a company and…
Checking Account
A bank account from which payments can be ordered by a deposi…
10 terms
Accounting 1 Chapter 5
Accounting
Assets
Expenses
Income Statement
The means of interpreting, measuring, and communicating the r…
Economic resources owned by a company to grow their business.
The costs of the goods and services used up in a specific acc…
A statement that shows the details and results of the Company…
Accounting
The means of interpreting, measuring, and communicating the r…
Assets
Economic resources owned by a company to grow their business.
13 terms
Accounting 1 Chapter 5
Code of Conduct
Checking account
Endorsement
Blank endorsement
A statement that guides the ethical behavior of a company and…
A bank account from which payments can be ordered by a deposi…
A signature or stamp on the back of a check transferring owne…
An endorsement consisting only of the endorser's signature.
Code of Conduct
A statement that guides the ethical behavior of a company and…
Checking account
A bank account from which payments can be ordered by a deposi…
12 terms
Accounting Chapter 5
Bank Statement
Blank Endorsement
Checking Account
Debit Card
A report of deposits, withdrawals, and bank balances sent to…
An endorsement consisting only of the endorser's signature.
A bank account from which payments can be ordered by a deposi…
A bank card that automatically deducts the amount of a purcha…
Bank Statement
A report of deposits, withdrawals, and bank balances sent to…
Blank Endorsement
An endorsement consisting only of the endorser's signature.
13 terms
Accounting I - Chapter 5
code of conduct
checking account
endorsement
blank endorsement
a statement that guides the ethical behavior of a company and…
a bank account from which payments can be ordered by a deposi…
a signature or stamp on the back of a check tranferring owner…
an endorsement consisting only of the endorser's signature
code of conduct
a statement that guides the ethical behavior of a company and…
checking account
a bank account from which payments can be ordered by a deposi…
13 terms
Accounting Chapter 5 Terms
Code of Conduct
Checking Account
Endorsment
Blank Endorsment
A statement that guides the ethical behavior of a company and…
A bank account from which payments can be ordered by a deposi…
A signature or stamp on the back of a check transferring owne…
An endorsement consisting only of the endorsers signature
Code of Conduct
A statement that guides the ethical behavior of a company and…
Checking Account
A bank account from which payments can be ordered by a deposi…
16 terms
Accounting I: Chapter 5
Bank Statement
Blank Endorsement
Checking Account
Code of Conduct
A report of deposits, withdrawals, and bank balances sent to…
An endorsement consisting only of the endorser's signature
A bank account from which payments can be ordered by a deposi…
A statement that guides the ethical behavior of a company and…
Bank Statement
A report of deposits, withdrawals, and bank balances sent to…
Blank Endorsement
An endorsement consisting only of the endorser's signature
20 terms
Accounting I Chapter 5
postdated check
voided check
bank statement
canceled check
a check with a future date on it
a check that cannot be processed because the maker has made i…
a report of deposits, withdrawals, and bank balances sent to…
a check which has been paid by the bank
postdated check
a check with a future date on it
voided check
a check that cannot be processed because the maker has made i…
13 terms
Accounting Chapter 5
bank statement
bank endorsement
checking account
code of conduct
A report of deposits, withdrawals, and bank balances sent to…
An endorsement consisting only of the endorser's signature.
A back account from which payments can be ordered by a deposi…
A statement that guides the ethical behavior of a company and…
bank statement
A report of deposits, withdrawals, and bank balances sent to…
bank endorsement
An endorsement consisting only of the endorser's signature.
29 terms
Accounting 1 Chapter 5
signature card
debit card
ATM
outstanding check
a form signed by each person authorized to sign checks
a bank card that automatically deducts the amount of the purc…
automated banking from a machine that is available 24 hours a…
check issued by a depositor but not yet returned with a bank…
signature card
a form signed by each person authorized to sign checks
debit card
a bank card that automatically deducts the amount of the purc…
13 terms
Accounting 1- Chapter 5 Terms
Code of Conduct
Checking Account
Endorsement
Blank Endorsement
a statement that guides the ethical behavior of a company and…
a bank account from which payments can be ordered by a deposi…
a signature or stamp on the back of a check tranferring owner…
an endorsement consisting only of the endorser's signature
Code of Conduct
a statement that guides the ethical behavior of a company and…
Checking Account
a bank account from which payments can be ordered by a deposi…
13 terms
Accounting 1 Chapter 5
code of conduct
checking account
endorsement
blank endorsement
Statement that guides the ethical behavior of a company and i…
Bank account from which payments can be ordered by a depositor
Signature or stamp on the back of a check transferring owners…
Endorsement consisting only of the endorser's signature
code of conduct
Statement that guides the ethical behavior of a company and i…
checking account
Bank account from which payments can be ordered by a depositor
15 terms
Accounting 1 Chapter 5
Code of Conduct
Checking Account
Endorsement
Blank Endorsement
A statement that guides the ethical behavior of a company and…
A bank account from which payments can be ordered by a deposi…
A signature or stamp on the back of a check transferring owne…
An endorsement consisting only of the endorse's signature
Code of Conduct
A statement that guides the ethical behavior of a company and…
Checking Account
A bank account from which payments can be ordered by a deposi…
12 terms
Chapter 5 accounting 1
checking account
Endorsement
Blank endorsement
Special endorsement
a bank account from which payments can be ordered by depositor.
a signature or stamp on the back of a check transferring owne…
an endorsement consisting only of the endorsers signature.
an endorsement indicating a new owner of a check.
checking account
a bank account from which payments can be ordered by depositor.
Endorsement
a signature or stamp on the back of a check transferring owne…
Accounting 1 Chapter 5
Usefulness of the B/S:
Limitations of the B/S:
Classification of Assets on the B/S
Classification of Liabilities & Owner'…
>computing rates of return... > evaluating the capital structure…
>Most assets & liabilities are reported at HISTORICAL COST... >…
Current Assets... LT Investments... PPE... Intangible Assets... Other Ass…
Current Liabilities... LT Liabilities... Owner's Equity... >>Capital S…
Usefulness of the B/S:
>computing rates of return... > evaluating the capital structure…
Limitations of the B/S:
>Most assets & liabilities are reported at HISTORICAL COST... >…
13 terms
Accounting 1 Chapter 5
code of conduct
checking account
endorsement
blank endorsement
a statement that guides the ethical behavior of a company and…
a bank account form which payments can be ordered by depositor
a signature or stamp on the back of a check transferring owne…
an endorsement consisting only of the endorser's signature
code of conduct
a statement that guides the ethical behavior of a company and…
checking account
a bank account form which payments can be ordered by depositor
13 terms
Accounting 1 chapter 5
Code of conduct
Checking account
Endorsement
Blank endorsement
A statement that guides the ethical behavior of a company and…
A bank account from which payments can be ordered by a deposi…
A signature or stamp on the back of a check transferring owne…
An endorsement consisting only of the endorser's signature
Code of conduct
A statement that guides the ethical behavior of a company and…
Checking account
A bank account from which payments can be ordered by a deposi…
8 terms
Accounting 1-Chapter 5
Ledger
General Ledger
Account Number
File Maintenance
A group of accounts
A ledger that contains all accounts needed to prepare financi…
The number assigned to an account
The procedure for arranging accounts in a general ledger, ass…
Ledger
A group of accounts
General Ledger
A ledger that contains all accounts needed to prepare financi…
13 terms
Accounting 1: Chapter 5
Bank Reconciliation
Checking Account
Endorsements
Blank Endorsement
is the process of determining any difference between the bank…
a bank account from which payments can be ordered by a deposi…
A signature or stamp on the back of a check transferring owne…
An endorsement consisting only of the endorsers signature
Bank Reconciliation
is the process of determining any difference between the bank…
Checking Account
a bank account from which payments can be ordered by a deposi…
13 terms
Accounting 1- Chapter 5
Bank Endorsement
Bank Statement
Checking Accounting
Code of Conduct
An endorsement consisting only of the endorser's signature.
A report of deposits, withdrawals, and bank balances sent to…
A bank account from which payments can be ordered by a deposi…
A statement that guides the ethical behavior of a company and…
Bank Endorsement
An endorsement consisting only of the endorser's signature.
Bank Statement
A report of deposits, withdrawals, and bank balances sent to…
13 terms
Accounting 1 chapter 5
Bank statement
Blank endorsement
Checking account
Code of conduct
A report of deposits, withdrawals, and bank balances sent to…
An endorsement consisting only of the endorser's signature
A bank account from which payments can be ordered by a deposi…
A statement that guides the ethical behavior of the company a…
Bank statement
A report of deposits, withdrawals, and bank balances sent to…
Blank endorsement
An endorsement consisting only of the endorser's signature
33 terms
Accounting 1: Chapter 5
bank statement
blank endorsement
checking account
Code of Conduct
A report of deposits, withdrawals, and bank balances sent to…
An endorsement consisting only of the endorser's signature
A bank account from which payments can be ordered by a deposi…
A statement that guides the ethical behavior of a company and…
bank statement
A report of deposits, withdrawals, and bank balances sent to…
blank endorsement
An endorsement consisting only of the endorser's signature
8 terms
accounting 1 chapter 5
Ledger
General Ledger
Account Number`
File Maintenance
a group of accounts
a ledger that contains all accounts needed to prepare financi…
the number assigned to an account
the procedure for arranging accounts in a general ledger, ass…
Ledger
a group of accounts
General Ledger
a ledger that contains all accounts needed to prepare financi…
13 terms
Accounting 1 chapter 5
code of conduct
checking account
endorsement
blank endorsement
A statement that guides the ethical behavior of a company and…
A bank account from which payments can be ordered by a deposi…
A signature or stamp on the bank of a check, transferring own…
An endorsement consisting only of the endorser's signature.
code of conduct
A statement that guides the ethical behavior of a company and…
checking account
A bank account from which payments can be ordered by a deposi…
13 terms
Accounting 1 - Chapter 5 Vocab
code of conduct
checking account
endorsement
blank endorsement
a statement that guides the ethical behavior of a company and…
a bank account from which payments can be ordered by a deposi…
a signature or stamp on the back of a check transferring owne…
an endorsement consisting only of the endorser's signature
code of conduct
a statement that guides the ethical behavior of a company and…
checking account
a bank account from which payments can be ordered by a deposi…
13 terms
Accounting - Chapter 5 Vocabulary
bank statement
blank endorsement
checking account
code of conduct
A report of deposits, withdrawals, and bank balances sent to…
An endorsement consisting only of the endorser's signature.
A bank account from which payments can be ordered by a deposi…
A statement that guides the ethical behavior of a company and…
bank statement
A report of deposits, withdrawals, and bank balances sent to…
blank endorsement
An endorsement consisting only of the endorser's signature.
8 terms
Chapter 5: Accounting 1
Accrual basis of accounting
Cash basis of accounting
Closing entries
Income Summary account
An accounting method under which revenue is recorded when it…
An accounting method under which revenue is recorded only whe…
Entries made at the end of a fiscal period to close off the r…
An account brought into existence as a debit to balance expen…
Accrual basis of accounting
An accounting method under which revenue is recorded when it…
Cash basis of accounting
An accounting method under which revenue is recorded only whe…
12 terms
Chapter 5 Accounting 1
Adjusting entries
book value
contra-asset
adjusted trial balance columns
Journal entries made at the end of an accounting period to re…
the difference between the asset account and its related accu…
an account with a credit balance that is deducted from the re…
the third pair of amount columns on the work sheet. they are…
Adjusting entries
Journal entries made at the end of an accounting period to re…
book value
the difference between the asset account and its related accu…
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