bo PorerORe RHO” 8 Fee &%) TEST I- TRUE OR FALSE, ON THE OFFICIAL ANSWER SHEET SHADE LETTER AIF THE ANSWERIS TRUE AND BIFTHE “= ANSWER IS FALSE. ERASURES ARE NOT ALLOWED. oe J Fale©, * soezig.oural san accounting journal designed to record ong Specie tyne 9 transaction fosl.clozmg byl eget ee aah tod Loe Tre. cap jurnal is used to record al ransactions that do not ft one ofthe special journals. Aas Lilenall The slr would record he stun of merchandise sldon account inthe sales joural. FEE “Cleary andny Iniemes de¥enot 2 ben T as oc va Inthe general edgar is known as a contol account. be ae OS Tene 5 fect journals ae uted, te purchase ot nance fa) would be recotded nth cash aaymatis aural “lol DY” ele T fale eae ansehen er aceaunt come fom the cash Beas joumal ans the a fake 1-e seer wos edn seus nrtuae son account ite aesourel. Free Falig(@) tHe courn ota tr Oar Acoursin he cash payments ouna sol noses th general cae \, Fa “The accounts payable subsidiary \sdger controls te accounts payable account io the LG Dang Rrdes Ccaiscpcadinyandseahacntes weesudlirsanta eieee ais Ww Um i pete talon cohen fa wrk shes conan the aecoet ances tha pp s a estes ie eae mys ter vi meron an wees inca» emer rere F YrueG) csven ase ‘clon! asses re assets that ae expected tobe converted o cash, sold or consumed during the next12 months cr win the operaing cycle | Fiestat mons. tee - F Tem Ql) oxspetonesuenon oon sees a cess yc eee eno nr maven AE j JPHC 15 Geme latity accounts can have their balances spit between the eurent iabty and long-tam lis sections of = Balance sheet. i F ee sie balance soot Pthe | True 11“onive osetia. na dterece boween neeideit conn ota andine balance sheet credential represents er ncn ont r/S0 meer he purchaser an dedi 3% ofthe ole orice pad win IS. days I SI condi eigen eran, aategen FUE cos ot mins operating exzense pu anyother orig evenie eqs income ftom opens onan _iconesatenet i tm, warcutne 2) | petbuchnces 9 v9.08 magin Y | biel rls and allowances Geo of gods sot | cyte margin percaniaga 1) athe revenue 6) cae tom operations 1 gage sap came stare, 10) ootratng expences ig mentary pai j ‘i Carw) & ‘The eas of sie even ovr soutSigootssals GOH mar9( > 208 Expenses, ohetian co of goods S08 al are incre inthe ett marin ot business Pring O7RIrees ‘ ‘Grose masa minis qparlina ezense8 eens FV OP of 2) a (Gross margin divided by net ales venue NEC: morsim Pere forge \ 2 Ballo of cst of goods sold to average inventory nve-/nyy Sosrrvassre EOE “The largest single expense of most merchandiing businesses asf exp gP0o/ COA. < a cage ascot 9 Sales Revemie, far ef on e/¢Vowrnre cB: Allene,at 7 ESET * «_ fifomatinat gous alreverues oper ard thon tts nd deducts al expres og without caning ny subtotals Virgie Stee 10 (irweiteterert Revense that oigatescutise he main operabons of abusiness aber! pevren one es minus purchase escounts and minus purchase alums ad alowancos 0/ purvfon - . setions. Use § for sles Journal for purchases Jourasl, CR for eash receipts Owner iwesimentoten 6! : (Owner witrayal ofeash 6) 7 Payment oF accrued slaris 3 Gp . Sales of fuss in xchange eseabie Aeceofennet on ODF Pures ofa fon as “ “Returned merchandise ASSAY “ae us Payment forthe purchase of inventory within the discount period PAR Madea gah ted oxcasonr fr stmed mechase Gy, __Saleofmerchandisgon scan mink : ae accion piel Bumper? Cease Puree of supplies on nesount py 4 Sale of merchandise foreash Cy i is Ps Ovaerinvesiment ofewupment Gy. ony purcloc cok parte —— 4 mR e Pyeng i | ‘ | hep : _" heey One Wicusbomer \SAes Jaucral*icafe mercharclie oF erccev/ 4 “i lechmale i GE Necen fs any “coBh pan cack #9 bayed 99 fda) ld | oe A brew leat Prcclose Qourt at - purclase Amari Oy occorns (o “Gopomy) + | Cash Payment - poymo-t ~Cbaptied pcre) iI : y en Puchated: 01) aeernet Mbibglaced yrerred | y oid Mechondee en ocr I PID Opn! 1) Ppfestnad ele eee oe i Retna &Mtyrene Bie" aa.0k Zé Di, * é y,