Save
Upgrade to remove ads
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


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. Your email address is only used to allow you to reset your password. See 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
edit
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

Accounting Chapter 8

TermDefinition
Direct materials inventory An inventory account used in a manufacturing company to record the direct materials on hand.
Gross price method A method used to record inventory purchases at the full price.
Loss on inventory A temporary account used to report losses of inventory. Discount Lost An account used under the net price method to record discounts lost.
Merchandise Inventory An inventory account used by a merchandising company.
Net price method A method used to record inventory purchases at the discounted price.
Periodic inventory system A system used by companies that need to determine the balance in inventory and the cost of goods sold only at specific points in time.
Perpetual inventory system A system used by companies that want to keep a running balance of the cost of inventory available for sale and the cost of goods sold during the period.
Purchase discounts A temporary account used to record purchase discounts taken.
Purchase returns and allowances A temporary account used to record purchases returns and purchase allowances.
Purchases A temporary account used to record purchases of inventory.
Special journal A journal used for transactions that occur frequently and in the same manner.
Subsidiary ledger A ledger used to record details for specific general ledger accounts.
Created by: 214719
 

 



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