Ten Column worksheet

The merchandise a business has on hand at the beginning of a fiscal period is

the ._________

• Beginning Inventory

• Ending inventory

• adjustment

• Physical Inventory

An amount that is added to or subtracted from an account balance to bring that

balance up to date is known as a_______

• Begining Inventory

• Ending Inventory

• Adjustment

• Physical Inventory

The merchandise on hand at the end of a fiscal period is the ._____

• Begining inventory

• Ending Inventory

• Adjustment

• Physical Inventory

An actual count of all the merchandise on hand and available for sale is called

a(n) .

• Beginning Inventory

• Ending Inventory

• Adjustment

• Physical Inventory

Office supplies consumed during the period amounted

to $394.40. What Account should be debited .

• Office Supplies

• Office supply Expense

• Income summary

The ending amount for Merchandise Inventory is

$1,412.67 more than the beginning amount. Income summary account should be ____

• Debited

• Credited