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