Understanding the Accounting Cycle for a Merchandising Business
- 59: Identify special journals and their uses.
After studying Chapter 11, in addition to defining key terms, you will be able to:
- LO1 Explain the purpose of a general journal.
- LO2 Account for purchases returns and allowances.
- LO3 Post a general journal to the accounts payable ledger and general ledger.
- LO4 Account for sales returns and allowances.
- LO5 Post a general journal to the accounts receivable ledger and general ledger.
- LO6 Record a correcting entry to the accounts receivable ledger.
- LO7 Explain the relationship between retained earnings and dividends.
- LO8 Account for the declaration and payment of dividends.
Chapter 11 Vocabulary Acct
Chapter 11 Accounting Text
Chapter 11 Coversheet
Chapter 11 Mastery
Chapter 11 Study guide
- 11-1 wkprs
- 11-2 wkprs
- 11-3 wkprs