Save
Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't know
Remaining cards (0)
Know
0:00
share
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

Chapter 11

TermDefinition
General Journal A journal with two amount columns in which all kinds of entries can be recorded
FYI – Maintaining equality A general journal entry posted to a controlling account, will also be posted to a subsidiary ledger account
Purchases Return Credit allowed for the purchase price of return merchandise, resulting in a decrease in the customers accounts payable to the vendor
Purchases Allowance Credit allowed for part of the purchase price of merchandise that is not returned, resulting in a decrease in the customers accounts payable to vendor
Debit Memorandum A form prepared by the costumer showing the price deduction taken by the customer for a return or an allowance
FYI – Returns & Purchases decrease the total value of merchandise purchased
FYI – Purchases Contra Account Purchases returns and allowances
FYI – Diagonal line purpose allows there to be recording of two purchases
FYI – 4 types of merchandise returned wrong item, damaged goods, credit on account, cash refund
Sales Return Credit allowed to a customer for the sales price of returned merchandise resulting in a decrease in the accounts receivable of the merchandising business
Sales Allowance Credit allowed to the customer for part of the sales price of merchandise that is not returned, resulting in a decrease in the Accounts Receivable of the merchandising business
Credit Memorandum A form Prepared by the vendor showing the amount deducted for returns and allowances
FYI – Sales Contra Account Sales returns and allowances
Retained Earnings An amount earned by a corporation and not yet distributed to stockholders
Dividends Earnings distributed to stockholders
Board of Directors A group of persons elected by the stockholders to govern the corporation
FYI – Business Entity The stockholders equity account: Dividends
Declaring a Dividend Action by a board of directors to distribute corporate earnings to stockholders
FYI – Paying of Dividends Announced on one date, paid on another.
Created by: andrew.v
 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards