Homework.

Write sentences with the vocabulary seen on page 6. Remember meaning in

English and one sentence per Word.

1. CASH.-
Money in the form of coins or banknotes, especially that
issued by agovernment.

I do not have cash to buy the food

2. ACCOUNTS PAYABE.-

Accounts payable (AP) is an accounting entry that

represents an entity's obligation to pay off a short-term
debt to its creditors. On many balance sheets, the accounts
payable entry appears under the heading current liabilities.

In 2018 I need to do an analysis of accounts payable

3. INVENTORY.-
A complete listing of merchandise or stock on hand, work
in progress, raw materials, finished goods on hand, etc.,
made each year by a business concern.

Carlos is making an inventory of everything that is in

the Company

4. NOTES PAYABLES.-
The amount of principal due on a formal written promise
to pay. Loans from banks are included in this account.

The company's notes payable are 5,000 dollars for the

entire month of August to October.

Cedeño Nimia Annabelle Friday 19:00-22:00 pm

 5. LAND.-
A long-term asset account that reports the cost of real
property exclusive of the cost of any constructed assets on
the property.

The land where I build the company has a price of

50,000 dollars according to the evaluation report.

6. COMMON STOCK.-
The stockholders' equity account that reports the par or
stated value of the issued shares of common stock.

My dad bought 5,000 dollars in common action.

7. ACCRUED LIABILITIES.-
Are usually expenses that have been incurred by a
company as of the end of an accounting period, but the
amounts have not yet been paid or recorded in Accounts
Payable.

In the company they Accrued liabilities have to be

analyzed by the accountant.

8. NOTES RECEIVABLE.-
An asset representing the right to receive the principal
amount contained in a written pro missory note.

The day friday the secretariat registry notes receivable

10 to the system.

9. ACCOUNTS RECEIVABLE.- Is the money that a

company has a right to receive because it had provided
customers with goods and/or services.

A manufacturer will have an account receivable when

delivering a truckload of goods to a customer on June 1 and the customer
can pay in 30 days.

Cedeño Nimia Annabelle Friday 19:00-22:00 pm

 10.EXPENSES.-
Costs that are matched with revenues on the
income statement. For example, Cost of
Goods Sold is an expense caused by Sales.

The expenses of the company jdc are

higher than their income.

11.PREPAID EXPENSES.-
Prepaid expenses are future expenses that have been paid in advance. You can
think of prepaid expenses as costs that have been paid but have not yet been
used up or have not yet expired

In 2014, advances for personnel ($ 0.102 million) and prepaid expenses ($

0.016 million) were reported with early transfers.

12.DIVIDENDS.-
A pro-rata share in an amount to be
distributed. A sum of money paid to
shareholders of a corporation out of earnings.

The dividends of this year are very high and

the shareholders are contacted by that.

13.BUILDINGS.-
A relatively permanent enclosed construction over a
plot of land, having a roof and usually windows and
often more than one level, used for any of a wide
variety of activities, as living, entertaining, or
manufacturing.

The general manager of Nestlé bought a new

building for the headquarters.

Cedeño Nimia Annabelle Friday 19:00-22:00 pm

 14.RETAINED EARNINGS.-
The regular retained earnings. Retained earnings
that have not been restricted.

The administrator of the central office

announced that the retained earnings are of
45,000 dollars.

15.EQUIPAMENT FURNITURE AND

FIXTURE.
Long-term assets that are reported under the
classification of property, plant, and equipment
on a company's balance sheet. These assets are
depreciated over their useful life.

The company acquires new Equipament

furniture for the cost of 5,000 dollars.

16.REVENUES.-
Fees earned from providing services and the amounts
of merchandise sold. Under the accrual basis of
accounting, revenues are recorded at the time of
delivering the service or the merchandise, even if
cash is not received at the time of delivery.

This year the manager informed that the

revenues is high, therefore the company has a lot
of liquidity and will invest in new projects.

Cedeño Nimia Annabelle Friday 19:00-22:00 pm