Relier Pairs Accounting Ch 11 Terms/Notes QuizVersion en ligne 4 Terms and Q's in Notes par Kerri Stegman 1 The owner’s equity accounts for a corporation are listed under this division. 2 What division is Purchase Returns and Allowances is listed under? 3 The total shares of ownership in a corporation. 4 What type of account is Dividends Payable? 5 What is the source document for a sales return and allowance transaction? 6 What is the source document for a purchase return or allowance transaction? 7 Amount to be paid in the future for goods or services already acquired. 8 When an invoice is received for buying supplies, a _____ is attached to avoid confusion. 9 Financial information is recorded and reported separately from the owner’s personal financial information. 10 What is the normal balance for Dividends Payable? 11 What is the normal balance for Sales Returns and Allowances? 12 What is the normal balance for Purchase Returns and Allowances? 13 A source document is prepared for each transaction. 14 What is the normal balance for Dividends? accounts payable capital stock liability credit memorandum objective evidence debit debit credit credit debit memorandum memorandum cost of goods sold stockholder's equity business entity
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