41. Journal entries for purchases, purchase discounts, purchase returns and allowances, sales, sales discounts, sales returns and
Question:
41. Journal entries for purchases, purchase discounts, purchase returns and
allowances, sales, sales discounts, sales returns and allowances, delivery
expenses
42. What is internal control and how can it be used to protect a company’s
assets?
43. What are the objectives of internal control?
44. Name three examples that are representative of safeguarding assets.
45. What is meant by the internal control procedure of “separation of duties”?
46. What are bonds? Bond payable? Face value?(maturity value, principal
amount, par value) Maturity date? Stated interest rate? (coupon rate, contract
rate)
47. Bond prices, bond price information quote
48. Stockholders’ Equity two parts. How do you determine total stockholder’s
equity?
49. Classifications, or sections, of the statement: operating activities, investing
activities, financing activities, non-cash investing and financing activities
50. Purpose of the Statement of Cash Flows
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille