Topic 1 [What is this?] Flashcards by Stussy Aubrey | Brainscape

Q

Cash on hand

A

CASH AND CASH EQUIVALENT

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Q

Cash in bank

A

CASH AND CASH EQUIVALENT

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Q

Petty cash fund

A

CASH AND CASH EQUIVALENT

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Q

BSP treasury bill purchased 3 months before maturity date

A

CASH AND CASH EQUIVALENT

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Q

Accounts receivable

A

TRADE AND OTHER RECEIVABLES

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Q

Allowance for doubtful accounts

A

TRADE AND OTHER RECEIVABLES

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Q

Notes receivable

A

TRADE AND OTHER RECEIVABLES

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Q

Accrued interest on notes receivable

A

TRADE AND OTHER RECEIVABLES

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Q

Advances to employees, collectible currently

A

TRADE AND OTHER RECEIVABLES

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Q

Income tax payable

A

TRADE AND OTHER PAYABLES

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Q

Goods sent by company on consignment (recorded at cost)

A

TRADE AND OTHER RECEIVABLES

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Q

Claim against shipper

A

TRADE AND OTHER RECEIVABLES

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Q

A/R-assigned

A

TRADE AND OTHER RECEIVABLES

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Q

A/R-unassigned

A

TRADE AND OTHER RECEIVABLES

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Q

Finished goods

A

INVENTORIES

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Q

Goods in process

A

INVENTORIES

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Q

Raw materials

A

INVENTORIES

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Q

Manufacturing supplies

A

INVENTORIES

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Q

Office supplies unused

A

PREPAID EXPENSES

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Q

Prepaid insurance

A

PREPAID EXPENSES

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Q

Land

A

PPE

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Q

Building

A

PPE

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Q

Machinery and equipment

A

PPE

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Q

Furniture and fixtures

A

PPE

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Q

Patterns, molds, dies and tools, net

A

PPE

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Q

Customer’s deposit

A

TRADE AND OTHER PAYABLES

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Q

Credit balance in customer’s account

A

TRADE AND OTHER PAYABLES

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Q

Land held for future plant site

A

PPE

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Q

Plant expansion fund

A

LONG-TERM INVESTMENTS

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Q

Financial assets at fair value

A

CURRENT ASSETS

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Q

Financial assets at amortized cost

A

LONG-TERM INVESTMENTS

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Q

Cash surrender value

A

LONG-TERM INVESTMENTS

Q

Patent

A

INTANGIBLE ASSETS

Q

Trademark

A

INTANGIBLE ASSETS

Q

Long-term refundable deposit

A

OTHER NONCURRENT ASSETS

Q

Long-term advances to officers

A

OTHER NONCURRENT ASSETS

Q

Accounts payable

A

TRADE AND OTHER PAYABLES

Q

Notes payable

A

TRADE AND OTHER PAYABLES

Q

Accrued interest on note payable

A

TRADE AND OTHER PAYABLES

Q

Income tax payable

A

TRADE AND OTHER PAYABLES

Q

Dividends payable

A

TRADE AND OTHER PAYABLES

Q

Accrued expenses

A

TRADE AND OTHER PAYABLES

Q

Share premium

A

RESERVES

Q

Retained earnings appropriated for contingencies

A

RESERVES

Q

Gross sales

A

NET SALES

Q

Sales return and allowances

A

NET SALES

Q

Sales discount

A

NET SALES

Q

Inventory, Jan 1

A

COST OF GOODS SOLD

Q

Purchases

A

COST OF GOODS SOLD

Q

Freight in

A

COST OF GOODS SOLD

Q

Purchase return and allowance

A

COST OF GOODS SOLD

Q

Purchase discount

A

COST OF GOODS SOLD

Q

Goods available for sale

A

COST OF GOODS SOLD

Q

Inventory, Dec 31

A

COST OF GOODS SOLD

Q

Interest revenue

A

OTHER INCOME

Q

Dividend revenue

A

OTHER INCOME

Q

Rent revenue

A

OTHER INCOME

Q

Gain from expropriation

A

OTHER INCOME

Q

Share in net income of associate

A

INVESTMENT INCOME

Q

Sales salaries

A

DISTRIBUTION COSTS

Q

SSS and Philhealth-sales

A

DISTRIBUTION COSTS

Q

Sales commission

A

DISTRIBUTION COSTS

Q

Advertising

A

DISTRIBUTION COSTS

Q

Store supplies expense

A

DISTRIBUTION COSTS

Q

Delivery expense

A

DISTRIBUTION COSTS

Q

Depreciation-store equipment

A

DISTRIBUTION COSTS

Q

Office salaries

A

ADMINISTRATIVE EXPENSES

Q

SSS and Philhealth-office

A

ADMINISTRATIVE EXPENSES

Q

Bonuses

A

ADMINISTRATIVE EXPENSES

Q

Office supplies expense

A

ADMINISTRATIVE EXPENSES

Q

Taxes and licenses

A

ADMINISTRATIVE EXPENSES

Q

Doubtful accounts

A

ADMINISTRATIVE EXPENSES

Q

Depreciation-office equipment

A

ADMINISTRATIVE EXPENSES

Q

Loss on sale of investment

A

OTHER EXPENSES

Q

Loss on sale of property

A

OTHER EXPENSES

Q

Casualty loss from earthquake

A

OTHER EXPENSES

Q

Interest expense on bank loan

A

FINANCE COST

Q

Interest expense on bonds payable

A

FINANCE COST