Accounting IA Ch.6-8
Help!
|
|
||||
|---|---|---|---|---|---|
| show | Discount for buying in large quantity.
🗑
|
||||
| show | Merchandise Inventory is credited.
🗑
|
||||
| What is a debit memo (debit memorandum)? | show 🗑
|
||||
| What is a credit memo (credit memorandum)? | show 🗑
|
||||
| What does 2/10, n30 mean? How is it read? | show 🗑
|
||||
| show | A balance sheet in a three part downward form.
🗑
|
||||
| What is an account form? | show 🗑
|
||||
| What are administrative expenses (general expenses)? Give a few examples. | show 🗑
|
||||
| show | Expenses incurred in the direct selling of merchandise. EG advertising expenses, store salaries, delivery fees, depreciation of store equipment and buildings, rent expenses.
🗑
|
||||
| How is operating income (income from operations) calculated? | show 🗑
|
||||
| Why are perpetual systems so widely used? | show 🗑
|
||||
| How are the cost of merchandise sold and inventory determined in a periodic system? | show 🗑
|
||||
| How are the cost of merchandise sold and inventory determined in a perpetual system? | show 🗑
|
||||
| How do you calculate Net Sales? | show 🗑
|
||||
| show | They are contra asset accounts. They are subtracted from sales to get net sales.
🗑
|
||||
| How do you calculate net income? | show 🗑
|
||||
| How is gross profit calculated? | show 🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
jilly15
Popular Accounting sets