Accounting _

Sales Revenue – The amount that a merchandiser earns from selling its inventory.
Accounts payable 3500
Cash 3500 – Journal Entry: Sauk paid for inventory on $3500 of credit with terms the following terms 2/10, n/30. Sauk(the buyer) paid after the discount period. How do they journal this?
Sales discounts and allowances – Income statement
sales revenue
Less: sales
One of the elements of financial statements is comprehensive income. As described in Statement of Financial Accounting Concepts No. 6, "Elements of Financial Statements," comprehensive income is equal to – None of these
Accounts Payable – Amount of money a business owes to its suppliers for purchases made on credit.
usher – One who shows people to their seats at a theatre, cinema or concert hall.
The fraud triangle consists of three factors:
A. Opportunity, rationalization and financial pressure
B. Ability, opportunity, rationalization
C. Rationalization, ability and financial pressure
D. Financial pressure, opportunity and ability – A
Interest – money paid for the use of money is called
Depreciation expense – that portion of the original cost of a fixed asset that is assigned as an expense to the reporting period expected to benefit from its use.
Income statement – shows revenues earned the expenses in cured and the resulting net income or net loss for a specific period of time.
– expenses = net income / net loss
Distinguish between the memory processes of encoding, storage and retrieval.
Depreciation – Expense created by allocating the cost of plant and equipment to periods in which they are used; represents the expense of using the asset
debit memorandum – items the bank deducts from the account balance
Dividends – Are taxable payments made to the owners of a business or shareholders
The left side of an account is: – C. The debit side
Cash-Basis accounting – Recognizes revenues when cash is received and records expenses when cash is paid.
Distinguish between the memоry prоcesses оf encoding, storаge аnd retrievаl.
mature company – positive cash flow from operating activities, slightly negative cash flow from investing activities, and negative cash flow from financing activities

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