TVS Accounting1-Extr Word Scramble
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Question | Answer |
The amount of goods on hand for sale to customers | Merchandise Inventory |
The total original price of all merchandise sold during a fiscal period | Cost of Merchandise Sold |
Assets expected to last or be in use for less than one year | Current Assets |
A partnership financial statement showing net income or loss distribution to partners | Distribution-of-net-income statement |
The revenue remaining after cost of merchandise sold has been deducted | Gross Profit on Sales |
The actual amount paid for merchandise or other items bought | Historical Cost |
The amount of goods on hand | Inventory |
A financial statement that summarizes the changes in owner's equity during a fiscal period | Owner's Equity Statement |
Assets that will be used for a number of years in the operation of a business | Plant Assets |
An amount earned by a corporation and not yet distributed to stockholders | Retained earnings |
A report prepared to give details about an item on a principal financial statement | Supporting Schedule |
Created by:
TammieVanScyoc
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