Entreps Review

It refers to the amount of merchandise or goods sold by the business for a given period of time

• Cost of Goods Sold

• Freight-in

• Purchase

• Merchandise Inventory, beginning

It refers to the merchandise or goods purchased.

• Cost of Goods Sold

• Freight-in

• Purchase

• Merchandise Inventory, beginning

It refers to goods and merchandise at the beginning of operation of business or accounting period

• Cost of Goods Sold

• Freight-in

• Purchase

• Merchandise Inventory, beginning

Bureau of Internal Revenue

• For getting the license to operate in the city or municipality

• This is where you register your business tradename.

• Registering corporations and partnerships

• For getting TIN, official receipts and invoices, registering your books of accounts and paying your national Internal revenue taxes

For getting the license to operate in the city or municipality and payment of your local business taxes, you should get the _________.

It refers to the book of final entry

• Ledger

• Bookkeeping

• Journal

• Book of Account

It refers to the book of original entry

• Ledger

• Bookkeeping

• Journal

• Book of Account

Cash on Hand

• Debit

• Credit

Notes Payable

• Debit

• Credit

Accumulated Depreciations

• Debit

• Credit