Accounting ll - Chapter 11

Credit allowed for part of the purchase price of merchandise that is not returned resulting in a decrease in Accounts Payable

• • Purchases Allowances

• • Purchases Return

• • Sales Allowances

• • Sales Return

A form prepared by a vendor showing the amount deducted for returns and allowances

• • Debit Memorandum

• • Memorandum

• • Credit Memorandum

• • Receipt

A group of persons elected by the stockholders to govern a corporation

• • Chief Executive Officer

• • Owners

• • Managers

• • Board of Directors

Action by a board of directors to distribute corporate earnings to stockholders

• • withdrawing money

• • declaring a dividend

• • selling stock

• • reducing stockholders equity

A journal with two amount columns in which all kinds of entries can be recorded

• • Purchases Journal

• • Sales Journal

• • General Journal

• • General Ledger

Credit allowed for the purchase price of returned merchandise resulting in a decrease in Accts Pay

• • Purchases Allowance

• • Purchases Return

• • Sales Allowance

• Sales Return

Credit allowed to a customer for the sales price of returned merchandise resulting in a decrease to

• Accounts. Rec.

• • Purchases Return

  • Purchases Allowance

• • Sales Return

• • Sales Allowance

A form prepared by the customer showing the price deduction taken by the customer for a return or allowance

• • credit memorandum

• • debit memorandum

• • memorandum

• • receipt

Earnings distributed to stockholders

• Dividends

• Stockholder Equity

• Retained Earnings

• Stock

• • Dividends

• • Stockholder Equity

• • Retained Earnings

• • Stock

Credit allowed to a customer for part of the sales price of merch that is not returned resulting in a decrease to Accounts Receivable

• • Sales Allowance

• • Sales Return

• • Purchases Return

• • Purchases Allowance