225Review for Test 2Spring2010

225Review for Test 2Spring2010 - Be able to prepare an...

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Review for Test 2 ACCT 225 Controls over cash disbursements Controls over cash receipts Bank Reconciliations and the accompanying journal entires The Cost of Goods Sold section of the income statement All of the periodic entries All of the perpetual entries Inventory Turnover Days in Inventory LIFO, FIFO, Weighed Average The sales entries (discount, returns, etc.)
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Unformatted text preview: Be able to prepare an income statement through gross profit Net Realizable Value A/R Turnover Average Collection Period FOB Destination FOB Shipping Point Adjusting entries and computations for: % of Net Sales % of A/R Aging of A/R Entries for: Write offs of Bad Debts Reinstatements and pay-offs...
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This note was uploaded on 06/22/2011 for the course ACCT 225 taught by Professor Canace during the Spring '08 term at South Carolina.

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