-
MATCH THE ITEMS WITH THEIR DEFINITIONS |
|
Sales Order:
- Purchase order:
- Sales Invoice:
- Accounts Payable:
- Accounts Receivable:
- General Ledger:
- Inventory:
- Payroll:
- The Average Inventory Costing Method:
- LIFO Inventory Costing Method:
- FIFO Cost Method:
- Form 941:
A.- It is a commercial document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services the seller will provide to the buyer.
B.- It is money owed to a business by its clients (customers) and shown on its Balance Sheet as an asset.
C.- It is a file or account sub-ledger that records amounts that a person or company owes to suppliers, but has not paid yet (a form of debt)
D.- It refers to the amount paid to employees for services they provided during a certain period of time
E.- A list of goods and materials, especially those held available in stock by a business
F.- The oldest costs are assigned to inventory items sold, regardless of whether the sold items were actually purchased at that cost
G.- LAST IN First Out
H.- The main accounting record of a business which uses double-entry bookkeeping
I.- It assigns inventory costs by calculating a moving average of all inventory purchase costs.
J.- It is an order issued by a business to a customer. It may be for products and/or services.
K.- Employer's Quarterly Federal Tax Form is the form used by employers to report employment taxes
L.- It is a business document issued any time a sale takes place. perhaps the most common document in the business world. It is an important record for both the seller and the client, and it's an essential element in the management and bookkeeping of any business.
What Peachtree does:
http://www.youtube.com/watch?v=IFm5onYjt_0&feature=related