Question

across

1. credit allowed to a customer for part of the sales price of merchandise that is not returned, resulting in a decrease in the accounts receivable of the merchandising business.
2. credit allowed for the purchase price of returned merchandise, resulting in a decrease in the customers account.
3. a form prepared by the customer showing the price deduction taken by the customer for a return or an allowance.
4. a group of persons elected by the stockholders to govern a corporation.
5. credit allowed for part of the purchase price of merchandise that is not returned, resulting in a decrease in the customers account.
6. a journal with two amount columns in which all kinds of entries can be recorded.
7. action by a board of directors to distribute corporate earnings to stockholders.
8. earnings distributed to stockholders.

down

1. credit allowed to a customer for the sales price of returned merchandise, resulting in a decrease in the accounts receivable of the merchandising business
2. processes and procedures employed within a business to ensure that its operations are conducted ethically, accurately, and reliably.
3. an amount earned by a corporation and not yet distributed to stockholders.
4. a form prepared by the vendor showing the amount deducted for returns and allowances.

Explanation:

Each term is defined based on core accounting terminology matching the provided descriptions.

Answer:

Across:

1. Sales Allowance
2. Purchase Return
3. Debit Memorandum
4. Board of Directors
5. Purchase Allowance
6. General Journal
7. Dividend Declaration
8. Dividends

Down:

1. Sales Return
2. Internal Controls
3. Retained Earnings
4. Credit Memorandum