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Eleven Accounting Definitions

0. Merchandise Inventory?net increase
1. Retained Earnings?debit for stock dividends distributed
2. Common Stock?credit for issuance at par for cash
3. Bonds Payable?debit for redemption of bonds
4. Office Supplies?net decrease
5. Accounts Receivable?net decrease
6. Retained Earnings?debit for net loss
7. Accounts Payable?net increase
8. Bonds Payable?credit for issuance for cash
9. Retained Earnings?debit for cash dividends paid
10. Equipment?credit for items sold
11. Accumulated Depreciation?Equipment?debit for fully depreciated items discarded


Solution Summary

The solution defines 11 different accounting terms.