Accounting - Cycle 2

a subsidiary ledger containing only accounts for vendors from whom merchandise or other items are purchased on account

a subsidiary ledger containing only accounts for charge customers

that total amount of depreciation expense that has been recorded since the purchase of a plant asset

crediting the estimated value of uncollectible accounts to a contra account

a report of credit card sales produced by a point-of-sale terminal

the process of preparing a batch report of credit card sales from a point-of-sale terminal

a group of persons elected by the stockholders to manage a corporation

the difference between an asset's account balance and its related contra account balance

the original cost of a plant asset minus accumulated depreciation

the difference between the balance of accounts receivable and its contra account, allowance for uncollectible accounts

total shares of ownership in a corporation

a deduction from the invoice amount, allowed by a vendor to encourage early payment

a petty cash on hand amount that is more than a recorded amount

a special journal used to record only cash payment transactions

a special journal used to record only cash receipt transactions

a sale in which cash is received for the total amount of the sale at the time of the transaction

a petty cash on hand amount that is less than a recorded amount

an account that reduces a related account on a financial statement

an account in a general ledger that summarizes all accounts in a subsidiary ledger

an organization with the legal rights of a oersin and which may be owned by many persons

the price a business pays for goods it purchases to sell

a sale in which a credit card is used for the total amount of the sale at the time of the transaction

a form prepared by the vendor showing the amount deducted for returns and allowances

cash and other assets expected to be exchanged for cash or consumed within a year

liabilities due within a short time, usually a year

a form prepared by the customer showing the price deduction taken by the customer for returns and allowances

the 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

earnings distributed to stock-holders

the amount of net income after federal income tax belonging to a single share of stock

a business form used to record details affecting payments made to an employee

the amount an owner expects to receive when a plant asset is removed from use

a federal tax used for state and federal administrative expenses of the unemployment progam

a comparison between two items of financial information

the revenue remaining after cost of merchandise sold has been deducted

the retail price listed in a catalog or on an internet site

liabilities owed for more than a year

the 12-month period that ends on June 30th of the prior year

the amount added to the cost of merchandise to establish the selling price

a federal tax paid for hospital insurance

goods that a merchandising business purchases to sell

the amount of goods on hand for sale to customers

a business that purchases and sells goods

the total earnings paid to an employee after payroll taxes and other deductions

total sales less sales discount and sales returns and allowances

the period covered by a salary payment

the total amount earned by all employees for a pay period

a business form used to record payroll information

taxes based on the payroll of a business

assets that will be used for a number of years in the operation of a business

a computer used to collect, store, and report all the information of sales transaction

the relationship between the market value per share and earnings per share of a stock

an invoice used as a source document for recording a purchase on account transaction

a transaction in which the merchandise purchased is to be paid for later

credit allowed for part of the purchase price of merchandise that is not returned, resulting in a decrease in the customer's accounts payable

a special journal used to record only purchases of merchandise on account

credit allowed for the purchase price of returned merchandise, resulting in a decrease in the customer's accounts payable

a merchandising business that sells to those who use or consume the goods

an amount earned by a corporation and not yet disturbed to stockholders

the money paid for employee services

credit allowed a customer for part of the sales price of merchandise that is not returned, resulting in a decrease in the vendor's accounts receivable

credit allowed a customer for the sales price of returned merchandise, resulting in a decrease in the vendor's accounts receivable

a listing of vendor accounts, account balances, and total amount due all vendors

a listing of customer accounts, account balances, and total amount due from all customers

each unit of ownership in a corporation

a federal tax paid for old-age, survivors, and disability insurance

a journal amount column headed with an account title

a journal used to record only one kind of transaction

a state tax used to pay benefits to unemployed workers

a financial statement that shows changes in a corporation's ownership for a fiscal period

an owner of one or more shares of a corporation

charging an equal amount of depreciation expense for a plant asset in each year of useful life

a ledger that is summarized in a single general ledger account

a report prepared to give details about an item on a principle financial statement

the maximum amount of earnings on which a tax is calculated

an agreement between a buyer and a seller about payment for merchandise

the total pay due for a pay period before deductions

a reduction in the list price granted to customers

accounts receivable that cannot be collected

a business from which merchandise is purchased or supplies or other assets are bought

a business that buys and resells merchandise to retail merchandising businesses

a deduction from total earnings for each person legally supported by a taxpayer, including the employee