Matching Pairs Accounting Ch 11 Terms/Notes QuizOnline version 4 Terms and Q's in Notes by Kerri Stegman 1 What is the source document for a sales return and allowance transaction? 2 When an invoice is received for buying supplies, a _____ is attached to avoid confusion. 3 The owner’s equity accounts for a corporation are listed under this division. 4 What is the normal balance for Dividends Payable? 5 Amount to be paid in the future for goods or services already acquired. 6 What is the normal balance for Sales Returns and Allowances? 7 What is the normal balance for Purchase Returns and Allowances? 8 The total shares of ownership in a corporation. 9 What division is Purchase Returns and Allowances is listed under? 10 A source document is prepared for each transaction. 11 What is the normal balance for Dividends? 12 What type of account is Dividends Payable? 13 What is the source document for a purchase return or allowance transaction? 14 Financial information is recorded and reported separately from the owner’s personal financial information. cost of goods sold stockholder's equity memorandum credit accounts payable credit memorandum objective evidence credit debit business entity debit capital stock debit memorandum liability
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