(1 of 42) Match the term to the correct definition. Accounts Receivable Unearned Revenue Closing Entries Income Statement Allowance for Doubtful Accounts Perpetual Method FIFO A. Amounts owed by customers to the company. B. A contra account to accounts receivable. C. Journal entries prepared at year-end to prepare accounts for the next year. D. Goods held for sale to customers. E. Money received from customers before any goods or services have been provided. F. This method sells the oldest inventory units. G. This account holds the face value of the debt. H. This is used by companies that have bar code scanners at checkout stands. 1. This may, or may not, exist, depending upon some outside future event. J. This shows how a company calculates their profits for the year. Bonds Payable Inventory Contingent Liability (2 of 42) Match the term to the correct definition. Statement of Retained Earnings Average Cost Discount Depreciation Expense A. This method is most appropriate when inventory units are all mixed together. B. The value of an asset at the end of its life. C. This shows how a company calculates retained earnings. D. The amount of value of an asset loses during one year of use. Double Declining Balance Depreciation Outstanding Shares Treasury Stock Financing Activities E. Inactive shares that do not have ownership of the corporation. F. The number of active shares held by stockholders. G. This represents changes in long-term liabilities and equity. H. This represents the face value less the cash received when a bond is sold. 1. An equity account that is often used as a plug in journal entries. J. This method can be used when a company is uncertain about an asset's useful life. Residual Value Additional Paid-In Capital (41 of 42) Issued stock refers to: Outstanding shares plus treasury shares. Shares issued for cash. Shares owned by shareholders. The maximum shares that may be issued. (42 of 42) What is the effect of a stock split on each of the following? A) B) C) D) Retained earnings no effect increase no effect increase Common stock no effect decrease increase increase A OB OC (40 of 42) Jacklyn Inc. had the following information: Cash repayment of notes Treasury stock purchased Proceeds from issuance of preferred stock Proceeds from issuance of bonds Cash dividends paid on preferred stock $ 90 150 210 270 75 What is Jacklyn's cash flow from financing activities? $60. $165. $210. $315. (39 of 42) Isadore Corp. had the following information: Cash paid to acquire equipment Cash paid to acquire land Treasury stock purchased Gain from the sale of buildings Proceeds from sale of buildings $ 120 54 75 78 135 What is Isadore's cash flow from investing activities? $-39. $-69. $-114. $-117