Explain the key term - accounts payable subsidiary ledger

Reference no: EM131912009

Question - Explain the key terms in your own words. No limit of words, just it should be long enough that the teacher understands.

account form	FOB (free on hoard) shipping point	perpetual inventory system
administrative expenses (general expenses)	general ledger	physical inventory
accounts payable subsidiary ledger	gross profit	purchases discounts
accounts receivable subsidiary ledger	income from operations (operating income)	purchases returns and allowances
controlling account	inventory shrinkage (inventory shortage)	ratio of sales to assets
cost of merchandise sold	inventory subsidiary ledger	report form
credit memorandum (credit memo)	Invoice	sales
credit period	merchandise inventory	sales discounts
credit terms	multiple-step income statement	selling expenses
customer discounts	operating cycle	single-step income statement
customer returns and allowances	other expense	special journals
debit memorandum (debit memo)	other income	subsidiary ledger
FOB (free on board) destination	periodic inventory system	trade discounts

Reference no: EM131912009

Questions Cloud

Types of economic consequences of lease accounting : Discuss two types of economic consequences of lease accounting.

Describe the disney parks web site : What words would you use to describe the Disney Parks web site? Does the cultural value of "making people happy" come across on the web site?

The facebook call with exercise price : The Facebook call with an exercise price of 170 has a higher price than the Facebook call with an exercise price of $190 if they have the same maturity?

Considering the issue of product to be added to product mix : Amadeus Corporation is considering the issue of a new product to be added to its product mix.

Explain the key term - accounts payable subsidiary ledger : Explain the key terms in your own words. No limit of words- accounts payable subsidiary ledger and accounts receivable subsidiary ledger

Explain minimization applied to exponentiation : CSD3203 – History and Philosophy of Computing Week2 – Basics of Computability Theory - Explain Minimization applied to Exponentiation: is it regular?

What effects has this inventory system had on producers : What 2 powerful forces converged in the 90s that Walmart took advantage of? How did they take advantage of them?

What should the price of the stocks be : What should the price of the following stocks be? In each case, the OCC is 10%.

Differences between publicly owned and publicly managed : Explain the differences between publicly owned and publicly managed venues versus publicly owned and privately managed venues.

User Account

All Pages