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33. When supplies are bought on account, an ________ is received from the ______.



34. CFO stands for ________?

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31. The two assets generally taken out of a merchandising business are ____ and ___________.



32. Please list three European colonial powers which have influenced accounting in Africa in different ways.

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29. According to John Chuang, accounting is like ________________________________________.



30. What do most banks require before they will consider lending money to hopeful small business owners? What might such a plan include?

bellringer - 5.4.11

27. What is the primary difference between a retail merchandising business and a wholesale merchandising business?



28. What is the difference between a vendor and a customer?

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25. Using __________ ____________ to record transactions is a type of batching process. All like transactions go in one journal.



26. In Chapter 10, we will have 5 different journals. The General Journal is one of those. Please list the other 4.

bellringer - 4.28.11

23. What is a partnership? What type of business have we been learning about in chapter 1-9?



24. From a business perspective, what exactly is a purchase?

bellringer - 4.26.11

21. The word post means _____, and thus, the Post Closing Trial Balance is prepared _____ closing entries.



22. At the end of the month in March (March 31), if current Capital (capital on the Post Closing Trial Balance) is $11,500 and Net Income is $1,500, then what are the values for the following?

Ending Balance of Revenue -
Ending Balance of Supplies Expense -
Ending Balance of Insurance Expense -
Ending Balance of Drawings -
Balance of Income Summary before it is closed -
Ending Balance of Income Summary -
Balance of Capital before any closing entries -