[cutestguy]

Can u please help me to get the answers to these questions?

0. The form of balance sheet with assets, liabilities, and owner's equity
Listed in a downward sequence is referred to as the
1. The bill that the seller sends to the buyer listing the terms of the sale
Is called the
2. The merchandise accounting system in which the amount of
Inventory on hand can always be determined is called the
3. The merchandise accounting system in which the cost of the
Merchandise sold is determined at the end of the accounting period
Is called the
4. If the purchaser is to assume the cost of delivering the goods, the
Terms of the sale are stated as FOB
5. If the seller is to assume the cost of delivering the goods, the terms
Of sale are stated as FOB
6-8. A sales invoice for $8,000, terms 2/10, n/30, FOB shipping point, is
Paid within the discount period. The seller has prepaid transportation costs of $500. Purchases of $200 are returned to the seller.
6. The amount of the sales discount is
7. The title of the account in which the discount is recorded by the
Seller is
8. The amount of cash received from the customer is
9. Gross profit is the difference between sales and
10. If ownership (title) to merchandise passes to the buyer when
Merchandise is delivered to the freight carrier, the shipping terms are

[Curlyben]

Please refer to This Announcement
Thank you

[cutestguy]

Ouch I'm so sorry... well I have something that you might have some corrections..

: Indicate the placement on financial statements of the items listed below by inserting the
Appropriate letter or letters in the Answers column. Assume the use of the multiple-step income statement and the
Perpetual inventory system.

STATEMENTS
Income Statement G. Statement of Owner's Equity Balance Sheet
A. Administrative expenses H. Current assets
B. Cost of merchandise sold I. Current liabilities
C. Other expense J. Long-term liabilities
D. Other income K. Owner's equity
E. Revenue from sales L. Property, plant, and equipment
F. Selling expenses

For
ITEMS APPEARING ON STATEMENTS Answers Scoring
0. Cash H
1. Merchandise inventory at end of period B
2. Transportation In C
3. Sales discounts F
4. Interest Income D
5. Gain on sale of fixed assets E 6. N.O. Nogy, drawing C
7. Interest receivable H
8. Accumulated depreciation—store equipment B
9. Interest revenue E
10. N.O. Nogy, capital at end of period K
11. Sales E
12. Store supplies expense A
13. Depreciation expense—store equipment C
14. Mortgage note payable (payable in 2007) J