Term
| Issuance of stock for cash |
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Definition
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Term
| Acquisition of property in exchange for note |
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Definition
Building
Land
Notes Payable |
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Term
| Acquisition of equipment on account |
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Definition
Equipment
Accounts Payable |
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Term
| Sale of monthly memberships on account |
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Definition
Accounts Receivable
Membership Revenue |
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Term
| Sale of court time for cash |
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Definition
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Term
| Payment of wages and salaries |
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Definition
Wage and Salary Expense
Cash |
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Term
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Definition
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Term
| Collection of accounts receivable |
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Definition
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Term
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Definition
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Term
| Sale of 300 memberships at $50 each |
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Definition
Accounts Receivable
Membership Revenue |
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Term
| Payment of wages and salaries |
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Definition
Wage and Salary Expense
Cash |
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Term
| Recognize revenue from house painting |
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Definition
Accounts Receivable
Service Revenue |
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Term
| Cash received from house painting |
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Definition
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Term
| Prepay insurance policy for 12 months |
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Definition
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Term
| Recognize $200 of insurance expense for the month |
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Definition
Insurance Expense
Prepaid Insurance |
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Term
| Purchase of store fixtures for cash |
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Definition
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Term
| Depreciation on store fixtures |
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Definition
Depreciation Expense
Accumulated Depreciation |
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Term
| Receipt of cash on insurance policy for 12 months |
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Definition
Cash
Insurance Collected in Advance |
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Term
| Insurance revenue earned for the month |
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Definition
Insurance Collected in Advance
Insurance Revenue |
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Term
| Receipt of cash for gift card |
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Definition
Cash
Deferred Revenue (gift card liability) |
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Term
| Receipt of cash from gift card |
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Definition
Deferred Revenue (gift card liability)
Sales Revenue |
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Term
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Definition
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Term
| Wages fro last two days of the month |
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Definition
Wages Expense
Wages Payable |
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Term
| Issuance of a 9%, 90-day, $20,000 note |
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Definition
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Term
| Interest for one month on a 9%, $20,000 loan |
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Definition
Interest Expense
Interest Payable |
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Term
| Payment of a 9%, 90-day, @20,000 loan with interest |
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Definition
Interest Payable
Interest Expense
Notes Payable
Cash |
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Term
| Record rent earned for the month of April |
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Definition
Rent Receivable
Rent Revenue |
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Term
| Record rent collected for the month of April |
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Definition
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Term
|
Definition
Wage and Salary Expense
Wages and Salaries Payable |
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Term
| Depreciation for the month |
|
Definition
Depreciation Expense
Accumulated Depreciation |
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Term
| Expiration of insurance benefits |
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Definition
Insurance Expense
Prepaid Insurance |
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Term
| Redemption of discount tickets |
|
Definition
Discount Tickets Sold in Advance
Discount Ticket Revenue |
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Term
| Depreciation for the month |
|
Definition
Depreciation Expense
Accumulated Depreciation |
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Term
| Expiration of insurance benefits |
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Definition
Insurance Expense
Prepaid Insurance |
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Term
| Redemption of discount tickets |
|
Definition
Discount Tickets Sold in Advance
Discount Ticket Revenue |
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Term
| Rent earned but not yet received |
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Definition
Rent Receivable
Rent Revenue |
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Term
| Estimated income taxes for the month |
|
Definition
Income Tax Expense
Income Tax Payable |
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Term
| Sale of inventory under perpetual system |
|
Definition
Cost of Goods Sold
Inventory |
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Term
| Purchase of merchandise on account |
|
Definition
Purchases
Accounts Payable |
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Term
| Return of merchandise for credit to account |
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Definition
Accounts Payable
Purchase Returns and Allowances |
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Term
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Definition
Accounts Payable
Cash
Purchase Discounts |
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Term
|
Definition
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Term
| Decline in value of inventory |
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Definition
Decline in Value of Inventory
Inventory |
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Term
|
Definition
Accounts Receivable
Sales Revenue |
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Term
| Estimated bad debts for the year |
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Definition
Bad Debts Expense
Allowance for Doubtful Expense |
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Term
| Estimated bad debts for the year |
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Definition
Bad Debts Expense
Allowance for Doubtful Expense |
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Term
| Sale of computer in exchange for promissory note |
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Definition
Notes Receivable
Sales Revenue |
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Term
|
Definition
Interest Receivable
Interest Revenue |
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Term
| Collection of promissory note |
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Definition
Cash
Notes Receivable
Interest Revenue
Interest Receivable |
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Term
|
Definition
Accounts Receivable-- VISA
Sales Revenue |
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Term
| Weekly receipts from credit card company |
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Definition
Cash
Collection Fee Expense
Accounts Receivable-- VISA |
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Term
|
Definition
Cash
Collection Fee Expense
Sales Revenue |
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Term
| Purchase of 6%, 120-day CD |
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Definition
Short-Term Investment-- CD
Cash |
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Term
|
Definition
Interest Receivable
Interest Revenue |
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Term
|
Definition
Cash
Short-Term Investments-- CD
Interest Receivable
Interest Revenue |
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Term
|
Definition
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Term
| Interest income on ABC bonds |
|
Definition
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Term
|
Definition
Cash
Loss on Sale of Bonds
Investment in Bonds |
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Term
| Purchase of common stock for cash |
|
Definition
Investment in Stuart Common Stock
Cash |
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Term
| Receipt of dividends on common stock |
|
Definition
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Term
| Sale of Stuart common stock |
|
Definition
Cash
Investment in Stuart Common Stock
Gain on Sale of Stock |
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