Chapter9accountingML Word Scramble
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Question | Answer |
goods that a business purchases to sell | merchandise |
a business that purcheses and sells goods | merchandising business |
a merchandising business that sells to those who use or consume the goods. | retail merchandising business |
a bsiness that buys and resells meerchandise to retail merchandising businesses | wholesale merchandising business |
an organization wiith the lefal rights of a person and which many persons may own | corporation |
total shares of ownership in a corporation | capital stock |
an owner of one or more shares of a corporation | stockholder |
a journal used to record only one kind of transaction | special journal |
the price a business pays for goods it purchases to sell | cost of murchandise |
the ammount added to the cost of merchandise to establi=sh the selling price | markup |
a business from which mercahndise is purchased or supplies or other asssests are bought. | vendor |
a transaction in whihc the merchandise purchased is to be paid for later. | purchase on account |
a special journal used to record only purchases of merchandise on account | purchases journal |
a journal amount column headed with an account title | special amount column |
an invoice used as a source document for recording a purchase on acccount transaction | purchases invoice |
purchases allowance | terms of sale |
a special journal used to record only cash payment transactions | cash payments journal |
a deduction that a vendor allows on the invoice amount to encourage prompt payment | cash discount |
a cash discount on purchases taken by a customer | purchases discount |
a journal amount column that is not headed with an account column | general amount column |
the retail price listed in a catalog or on an internet site | list price |
a reduction in the list price granted to customer | trade discount |
an account that reduces a related account ona finacial statement | contra account |
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 a recorded account | cash over |
credit allowed for the purchase price of returened merchandise, resulting ina decrease in the customer's accounts payable | purchases return |
credit allowed for part of the purchase price of merchandise that is not returned, resultining ina decrease in the custommer'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 |
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