I'm feeling lucky
The current medicare tax rate.
What is 1.45%
Financial Statement that is considered a snapshot in time?
What is the balance sheet?
How many columns are on the worksheet?
What is 10?
The financial statement that shows is a company is profitable.
What is the Income Statement?
This is the capital of Ireland.
What is Dublin?
What is Income Summary?
Everything a company owns whether it be cash, inventory, buildings, equipment, or automobiles.
What are assets?
Credit means ___ always.
What is right?
The debited account type used when journalizing adjusting entries.
What is an expense?
The entry to adjust for depreciation on equipment.
What is DR Depreciation Expense and CR Accumulated Depreciation?
A transaction/entry that involves more than two accounts.
What is a compound entry?
The DR and CR for a transaction of receiving a payment from a creditor.
What is DR Cash; CR Accounts Receivable?
This is the accounting equation.
What is Assets=Liabilities+Equity?
The accounts listed on the Post-Closing Trial Balance. (They will continue to exist after closing)
What are permanent accounts?
On the Origin of Species' was written by this author.
Who is Charles Darwin?
Accumulated Depreciation is this type of an account.
What is contra asset?
Salaries and wages, utilities, supplies, repairs, rent, office, insurance, advertising.
What are expenses?
These entries are made at the end of the month or accounting period that account for lost value or used up assets.
What are adjusting entries?
An employee earns $30 an hour and 1.5 that amount for overtime. The pay he/she would earn for working 41 hours.
What is $1,245?
The Triple Crown award is given to a horse that wins these three races.
What are the Kentucky Derby, Preakness Stakes, and Belmont Stakes?
The five main general accounts used to keep track of financial transactions.
What are assets, liabilities, equity, revenue, and expense.?
What does GAAP stand for?
What is Generally Accepted Accounting Principles?
A record by which accounting/financial data can be traced to their source.
What is an audit trail?
A truck is purchased for $40,000 and has a 8-year life with a scrap value of $8,000. The annual depreciation the truck loses is . . .
What is $4,000?
The entry used to close Fees Earned at the end of the accounting period.
What is DR Fees Earned and CR Income Summary?