Accounting 3.3

4. portion of a plant asset’s cost that is transferred to an expense account in each fiscal period during the plant asset’s useful life.
6. difference between an asset’s account balance and its related contra account balance.
7. total amount of depreciation expense that has been recorded since the purchase of a plant asset.
9. of depreciation/A method of calculating depreciation which charges an equal amount of depreciation expense for a plant asset in each year of its useful life.
10. ledger/A subsidiary ledger containing only accounts for change customers.
13. ledger that is summarized in a single general ledger account.
14. ledger/A subsidiary ledger containing only accounts for vendors from when items are purchased on account.
16. and other assets expected to be exchanged for cash or consumed within a year.
17. receivable/A listing of customer accounts with account balances and total amount due from all customers.

1. value/The amount of an owner expects to receive when a plant asset is removed from use.
2. that will be used for a number of years in the operation of a business.
3. receivable that cannot be collected.
5. of goods on hand for sale to customers.
8. account in the general ledger that summarizes all accounts in a subsidiary ledger.
11. payable/A listing of vendor accounts with account balances and total amount due all vendors.
12. of accounts receivable/The difference between the balance of accounts receivable and its contra account. Allowance for uncollectible accounts.
15. of a plant asset/The original cost of a plant asset minus accumulated depreciation.