A special multi-column record that supplements the regular ...

[jake]

A special multi-column record that supplements the regular accounting records and from which no posting is done is called a
 a. bank reconciliation form.
   b. petty cash payment record.
   c. journal.
   d. ledger.

Question 2

Match each of the following terms with the appropriate definitions. Use each term only once.
 
  a. prepaid insurance
  b. accounts receivable
  c. accounts payable
  d. assets
  e. current assets
  f. liabilities
  g. current liabilities
  h. classified balance sheet
  i. shareholders' equity
  j. contributed capital
  k. adjusting the books
 
  _____ 1. Name for the owners' claims to the assets of the business which includes both contributed capital and retained earnings
  _____ 2. The economic resources of a company resulting from past transactions
  _____ 3. Amounts customers owe a company for goods or services purchased on credit
  _____ 4. Obligations the company has incurred to obtain the assets it owns
  _____ 5. Insurance a business has purchased, but not yet used
  _____ 6. Assets the company plans to turn into cash or use to generate revenue in the next fiscal year
  _____ 7. The amount the owners have put into their business
  _____ 8. The process of making changes in the accounting records, at the end of an accounting period to make sure that the amounts reflect the financial condition of a company as of that date
  _____ 9. Financial statement which shows subtotals for current assets and current liabilities
  _____ 10. Liabilities the company will pay off within the next fiscal year
  _____ 11. Amounts the company owes its vendors

[Briannahope]

Answer to Question 1

b

Answer to Question 2

i, d, b, f, a, e, j, k, h, g, c

[jake]

YES! Correct, THANKS for helping me on my review

[FergA]

Excellent