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accounting 10 > Chapter 5 Inventory And Sales > Flashcards

Chapter 5 Inventory And Sales Flashcards

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CPA flashcards
0
Q

Purchase Return/ Sales Return
Perpetual
Buyer

A

Dr. Cash/ Accounts Payable

Cr. Inventory

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1
Q

Purchase/ Sale
Perpetual
Buyer

A

Dr. Inventory

Cr. Cash/ Accounts Payable

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2
Q

Purchase Allowance/ Sales Allowance
Perpetual
Buyer

A

Dr. Cash/ Accounts Payable

Cr. Inventory

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3
Q

Purchase Discount/ Sales Discount
Perpetual
Buyer

A

Dr. Accounts Payable
Cr. Cash
Inventory

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4
Q

Purchase/ Sale
Perpetual
Seller

A

Dr. Cash/ Accounts Receivable
Cr. Sales Revenue
Dr. Cost of Goods Sold
Cr. Inventory

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5
Q

Purchase Return/ Sales Return
Perpetual
Seller

A

Dr. Sales Returns and Allowances
Cr. Cash/ Accounts Receivable
Dr. Inventory
Cr. Cost of Goods Sold

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6
Q

Purchase Allowance/ Sales Allowance
Perpetual
Seller

A

Dr. Sales Return and Allowances

Cr. Cash/ Accounts Receivable

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7
Q

Purchase Discount/ Sales Discount
Perpetual
Seller

A

Dr. Cash
Sales Discount
Cr. Accounts Receivable

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8
Q

Purchase/ Sale
Periodic
Buyer

A

Dr. Purchases

Cr. Cash/ Accounts Payable

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9
Q

Purchase Return/ Sales Return
Periodic
Buyer

A

Dr. Cash/ Accounts Payable

Cr. Purchase Returns and Allowances

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10
Q

Purchase Allowance/ Sales Allowance
Periodic
Buyer

A

Dr. Cash/ Accounts Payable

Cr. Purchase or Returns and Allowances

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11
Q

Purchase Discount/ Sales Discount
Periodic
Buyer

A

Dr. Accounts Payable
Cr. Cash
Purchase Discounts

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12
Q

Purchase/ Sale
Periodic
Seller

A

Dr. Cash/ Accounts Receivable

Cr. Sales Revenue

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13
Q

Purchase Return/ Sales Return
Periodic
Seller

A

Dr. Sales Returns and Allowances

Cr. Cash/ Accounts Receivable

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14
Q

Purchase Allowance/ Sales Allowance
Periodic
Seller

A

Dr. Sales Returns and Allowances

Cr. Cash/ Accounts Receivable

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15
Q

Purchase Discount/ Sales Discount
Periodic
Seller

A

Dr. Cash
Sales Discount
Cr. Accounts Receivable

accounting 10 (2 decks)

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