Accounting 1 Extra terms
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| The amount of goods on hand for sale to customers | Merchandise Inventory
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| The total original price of all merchandise sold during a fiscal period | Cost of Merchandise Sold
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| Assets expected to last or be in use for less than one year | Current Assets
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| A partnership financial statement showing net income or loss distribution to partners | Distribution-of-net-income statement
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| The revenue remaining after cost of merchandise sold has been deducted | Gross Profit on Sales
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| The actual amount paid for merchandise or other items bought | Historical Cost
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| The amount of goods on hand | Inventory
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| A financial statement that summarizes the changes in owner's equity during a fiscal period | Owner's Equity Statement
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| Assets that will be used for a number of years in the operation of a business | Plant Assets
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| An amount earned by a corporation and not yet distributed to stockholders | Retained earnings
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| A report prepared to give details about an item on a principal financial statement | Supporting Schedule
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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.
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Created by:
TammieVanScyoc
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