Accounting Fundamentals Quiz

Notes receivables

Accruals - Accrued expenses/Accrued revenues

Debit card fees/sales

Allowance method (correct)

Accumulated depreciation/Carrying amount

Periodic

Bank reconciliation

Perpetual (correct)

Net Sales - Cost of Goods Sold = Gross Profit (correct)

Cost of net purchases = Learning objective 4

Bank reconciliation - Journal entries = Financial statements

Accumulated depreciation/Carrying amount - Accruals = Accrued expenses

<p>Horizontal analysis</p> Signup and view all the answers

<p>Transfer net income/loss to retained earnings and reset temporary accounts</p> Signup and view all the answers