| A | B |
|---|
| stockholder | A ______ is an owner of one of more shares of a corporation. |
| Debit, debit | A dividends account has a normal ____ balance and is increased by a _____. |
| liability | A declared dividend is classified as a(n) _____ . |
| work sheet | The purpose of a _______ is to plan adjustments and summarize the information necessary to prepare financial statements. |
| percentage | Many businesses use a _____ of total sales on account to estimate uncollectible accounts expense. |
| expense | Federal income tax is an ____ of a corporation. |
| expense | The portion of the insurance premiums that has expired during a fiscal period is classified as a(n)___. |
| Prepaid Ins and Ins Exp | The two accounts used to adjust the Prepaid Insurance account are ___. |
| merchandise inventory | The amount of goods on hand for sale to customers is called ___. |
| purchased | The Merchandise Inventory amount in a work sheet's Trial Balance Debit column represents the merchandise inventory ___ during a fiscal period.. |
| Matching Exp. with Rev. | Recording expenses in the accounting period in which the expenses contribute to earning revenue is an application of the accounting concept ___. |
| Acc. Deprec.--Store Equip. and Deprec. Exp.--Store Equip. | The two accounts used to adjust the depreciation of store equipment are ___. |
| retained earnings | An amount earned by a corporation and not yet distributed to stockholders is called ____. |
| uncollectible accounts | Accounts receivable that cannot be collected are called _____. |
| current assets | Cash and other assets expected to be exchanged for cash or consumed within a year are called ___. |
| plant assets | Assets that will be used for a number of years in the operation of a business are called ____. |
| estimated salvage value | The amount an owner expects to receive when a plant asset is removed from use is called ____. |
| depreciation expense | The portion of a plant asset's cost is transferred to an expense account in each fiscal period during a plant asset's useful life is called ____. |
