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

Accounting ll

Ch. 18 vocab.

QuestionAnswer
An organization with legal rights of a person and which may be owned by many persons. Corporation
Each unit of ownership in a corporation. Share of stock
Total shares of ownership in a corporation. Capital stock
Financial information is recorded and reported separately from the owner's personal financial information. Business entity
For all purchases of merchandise on account. Purchase journal
For all cash payments. Cash payments journal
For all sales of merchandise on account. Sales journal
For all cash receipts. Cash receipts journal
A liability account that summarizes the amounts owed to all vendors. Accounts payable
A business's printed or catalog price. List price
A reduction in the list price granted to customers. Trade discount
The actual amount paid for merchandise or other items bought is recorded. Historical cost
A deduction from the invoice amount, allowed by a vendor to encourage early payment. Cash discount
A cash discount on purchases taken by a customer. Purchases discount
An account that reduces a related account on a financial statement. Contra account
2% of the invoice amount may be deducted if the invoice is paid within 10 days of the invoice date. The total invoice amount must be paid within 30 days. 2/10, n/30
An amount of cash kept on hand and used for making small payments. Petty cash fund
A petty cash on hand amount that is less than a recorded amount. Cash short
A petty cash on hand amount that is more than the recorded amount. Cash over
Credit allowed for the purchase price of returned merchandise, resulting in a decrease in the customer's accounts payable. Purchases return
Credit allowed for part of the purchases price of merchandise that is not returned, resulting in a decrease in the customer's accounts payable. Purchases allowance
A form prepared by the customer showing the price deduction taken by the customer for returns and allowances. Debit memorandum
A source document is prepared for each transaction. Objective evidence
Created by: mmincy
 

 



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