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