Accounting Chapter 9-16 Vocabulary

Goods that a merchandising businesses purchases to sell are called _______.

• merchandise
• services
• cost of goods sold
• book value

A ________ is an owner of one or more shares of a corporation.

• employee
• stockholder
• board of driectors
• employer 

A ___________ is a journal used to record on one kind of transaction.

• General Journal
• Special Journal
• Check stub
• Schedule of Accounts

__________ is a transaction in which you merchandise is purchased and you will pay for it later.

• purchase on account
• sale on account
• purchase journal
• retained earnings 

This is a special journal used to record only purchases of merchandise on account. 

• cash payments journal
• cash receipts journal
• purchase journal
• sales journal

This is a special journal used to only record cash payment transactions.

• purchase journal
• cash receipts journal
• sales journal 
• cash payments journal 

This is a special journal used to only record sales of merchandise on account. 

• purchase journal
• sales journal
• cash payments journal
• cash receipts journal 

This is a special journal used to only record cash receipt transactions. 

• purchase journal
• sales journal
• cash payments journal
• cash receipts journal 

A subsidiary ledger ledger containing only accounts for vendors from which merchandise or other items are purchased on account. 

• Accounts payable ledger
• Accounts receivable ledger
• cash ledger
• liabilities subsidiary ledger 

A subsidiary ledger containing only accounts for charge customers.

• Accounts payable ledger
• Accounts receivable ledger
• cash ledger
• liabilities subsidiary ledger