
FABM1_Long Quiz
Quiz by Rosalinda Ruiz
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Accounts Payable
Accounts Receivable
Fees Earned
K. Chang Drawing
Supplies
Unearned Fees
K. Chang Capital
Utilities Expense
Wages Payable
Wages Expense
A form with left and right side
A financial statement that contains the asset, liabilities, and owner's equity
Is prepared to facilitate the preparation of adjusting entries, financial statements, and closing entries
An account that asset, liabilities, and owner's equity are in vertical order.
It shows the financial condition of the business.
Salary, Utilities, Supplies Used are examples of
Income and Expense are in the financial statement of
Asset is on the left side, liability and owner's equity are on the right side, this form of account is called ______
Buildings, Accounts Receivable and Supplies are examples of _______
Supplies Used, Salaries Expense, and Advertising Expense are examples of ______
Merchandise sales, P3,000; Terms 3/10, n/30.
Purchased merchandise on account. P2,500 . Terms: 2/10, n/30
Sold merchandise on account. P5,000. Terms: n/60.
Sold on account P1,800, Terms: 3/15, n/30.
Merchandise sales on credit P8,200. Terms: 5/10, 3/15, n/30.
Purchased merchandise on account, P10,000. Terms: 20/10, 10/20, n/30.
Merchandise sales on account P 8,500. Terms: 30/10, 15/20, 5/30.
Sold merchandise on credit on the amount of p 15,200. Terms: 5/15, 3/10, n/30.
Merchandise sales on account, P 4,200. Terms: 20/5, 10/15, n/30.