Question Details

A part of equity in a corporation  



MATCHING
	Match the items below by entering the appropriate code letter in the space provided.

	A.	Worksheet	F.	Share Capital-Ordinary
	B.	Permanent accounts	G.	Current assets
	C.	Closing entries	H.	Operating cycle
	D.	Income Summary	I.	Non-current liabilities
	E.	Reversing entry	J.	Correcting entries

		1.	Obligations that a company expects to pay after one year.

		2.	A part of equity in a corporation.

		3.	An optional tool which facilitates the preparation of financial statements.

		4.	A temporary account used in the closing process.

		5.	Statement of financial position accounts whose balances are carried forward to the next period.

		6.	The average time that it takes to go from cash to cash in producing revenues.

		7.	Entries to correct errors made in recording transactions.

		8.	The exact opposite of an adjusting entry made in a previous period.

		9.	Entries at the end of an accounting period to transfer the balances of temporary accounts to  Retained Earnings.

		10.	Assets that a company expects to pay or convert to cash or use up within one year.



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