Principals Of Accounting Chapter 10 Vocabulary

Trail balance – A list of all accounts and their balances
Simple entry – a journal entry that involves only two accounts
Buy on account – A common business practice in which business buy items and pay for them at a future date.
Check – A business form which a company uses to pay cash from a bank to an account
credit memorandum – a source document that grants credit to a buyer for purchase return or purchase allowance
Current Liabilities include – short term notes payable
accrued expenses
accounts payable
unearned revenue
____ payable
income taxes payable
current portion of L/T debt
gross margin – difference between net revenue and cost of revenue. What is the ultimate revenue
50. Aikman Company has paid dividends of $2,410, $0, $1,570 and $1,060 over the first four years of the company's existence. If Retained Earnings after year four has an ending balance of $9,700, what is the average annual amount of net income (loss) over the past four years for Aikman?
A. $3,685.
B. $14,740.
C. $840.
D. $1,260. – A. $3,685.
devengar intereses – to accrue interests
preferred stock – stock with preference over common stock in the payment of dividends and the distribution of assets
The amount of data that can be transferred from one point to another in one second is called _____.
Overhead – all costs from or related to the manufacturing, factory other than DM, DL
Outstanding check – A check that has been issued but not presented for payment to a bank is called a
The аmоunt оf dаtа that can be transferred frоm one point to another in one second is called _____.
fruiterer – One who sell fruit.
cost principle – acquired assets and services should be recorded as their actual cost
Proprietorship – one owner, liable

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