Catwoman, Riddler,Penguin, Joker

Current location in room?

Front desk on top of matching shirt!

In FOB Destination, ownership is transferred when....

Goods arrive at the buyers location

2/15, n/30 is read as...

2% discount paid in 15 days; or net 30 days

Accounts required when a customer pays invoice and does not take a discount

Acct. Rec, Cash, Sales Discounts Forfited

Buys from manufacturers; sells to other businesses

Sold inventory for $14,000 (COGS $7000); terms 1/10, n/30 FOB Shipping Point

Dr. AR/Cr. Revenue; Dr. COGS/Cr. Inventory

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Merchandise Accounting December 24

29 termsStudBud Administration190 plays

Grade 11 Accounting

Flashcards29 cardsFPractice quizPHost liveL

Questions 29

Answers

1
Identify
Cast from the original 70's show
Cast from New Hope
Cast of Hamilton
Cast from most popular 70's tv show
2
Shrinkage is when there is
Broken Inventory
Theft of merchandise
Deterioration of Inventory
All of the above
3
In FOB Shipping Point, transportation is paid by:
Aliens
It depends
Buyer
Seller
4
Identify
Batman's friends
Catwoman, Riddler,Penguin, Joker
Batgirl, Joker, Mr. Freeze The Mask
Batgirl, Joker, Penguin, Riddler
5
Which of the following is NOT a temporary account?
Unearned Revenue
Cost of Good Sold
COGS
Sales Revenue
6
Not on list of 2024 's hottest toys
Squishmallows
Fluffie Stuffiez
Bluey Plane
Legos
7
Which of the following is not an expense?
CGS
Inventory
Interest Expense
Cost of Goods Sold
8
Name?
Grogu
Yooda
Yoda
Baby Yoda
9
Current location in room?
Next to metal chicken
Middle Table
Front Desk
Front desk on top of matching shirt!
10
MV's campus is part of which watershed?
Susquehanna
Patapsco
Potomac
Gunpowder
11
If you left Manchester how many states would you cross to get to Canada?(not counting Maryland)
4
1
2
3
12
The west end of route 27 terminates at
Montgomery County
Westminster
Sheets
Manchester
13
In FOB Destination, ownership is transferred when....
Good leaves the sellers warehouse
Goods arrive at the buyers location
At the end of the month
When a cash transaction occurs
14
2/15, n/30 is read as...
Feb 15th; net 30
$2 discount paid in 15 days; net 30 days
15% discount paid in 2 days; or net 30 days
2% discount paid in 15 days; or net 30 days
15
Which inventory system do we study in this course?
Plausible
Periodic
Platnoic
Perpetual
16
Gross Profit =
Net Sales - COGS
Revenue - CGS
Sales - Expenses
COGS - Sales
17
Accounts required when a customer pays invoice and does not take a discount
Acct. Rec, Cash, Inventory
Acct. Pay, Cash, Inventory
Freight Expense, Cash, Acct. Rec
Acct. Rec, Cash, Sales Discounts Forfited
18
COGS =
Cost of Gross Sales
Cost of Goods Sold
Cost of Good for Sale
Cost of Growing Sales
19
Identify
Heron
Erget
Eagle
Oriole
20
Largest merchandiser in USA?
Sears
Target
Wal Mart
Amazon
21
Number events in an indoor track meet?
13
16
24
18
22
A wholesaler
Buys from manufacturers; sells to other businesses
Sells to manufcturers
Buys from consumers; sells to retailers
Buys from retailers; sells to consumers
23
Who was Obi Wan's girlfriend? : _ (
Dutchess Satine
Padame
Never had one
Queen Amidala
24
Inventory Turnover is best when
it is decreasing
it is low
it is high or increasing
a percent of sales
25
Walmart's average inventory in 2023?
44 million
44 Billion
Cannot be calculated as it sells too fast
44 Trillion
26
Net Profit =
Sales - COGS
Gross Profit - Expenses
Gross Profit
COGS - Expenses
27
Closest retailer to MV's campus?
Walmart
Amazon
Target
Vinces
28
What is this? Gross Profit/Net Sales
Gross Profit
Gross Profit Percentage
Cost of Goods Sold
Turnover Rate
29
Sold inventory for $14,000 (COGS $7000); terms 1/10, n/30 FOB Shipping Point
Dr. AP/ Cr. Revenue
Dr. AR/ Cr. Revenue
Dr. AP/Cr. Revenue; Dr. COGS/Cr. Inventory
Dr. AR/Cr. Revenue; Dr. COGS/Cr. Inventory

Merchandise Accounting December 24 Flashcards | StudBud