foundation 21st workplace skillzz
beginners accounting
merchandise
Taxes
Miscellaneous
100
Sharon takes responsibility and initiative for her own work at accounting temps. This is an example of which 21st century skill?
self-direction
100
What is the effect when $200 cash is payed to an advertising agency for advertisements for the business?
Assets decrease $200 and owners equity decreases by $200
100
Wanda's wigs paid cash to wig warehouse, $323; covering purchase invoice # 812 for $340, less a 5% discount, $17. what is the journal entry for Wanda's wigs to record this transaction?
Debit acct. payable/ wig warehouse $340; credit purchase discount $17; Credit cash $323.
100
johns gross income is 4,000 a week (cuz he rich) and the state income tax rate is 6.2%. What is his weekly state income tax bill.
$248
100
ACCPAC and Quick Books are examples of these.
What are accounting computer programs?
200
Jason demonstrates accuracy and truthfulness when he works with his accounting clients. This is an example of which key principle for ethics and accounting?
Integrity
200
What is an example of an account that has a normal credit balance? A)cash B)Accounts payable C)prepaid insurance D)supplies
B) accounts payable
200
The fish friends pet shop purchased fish on account from goldfish supply for $152. What is the journal entry for fish friends pet shop to record this transaction?
Debit purchases $152; credit accts. payable/ goldfish supply $152.
200
Medicare tax is $28 a year; the federal income tax rate is 6.489% a year; the state income tax rate is 2.22%a year and Mary has a gross earnings of 30,000 a year, what is her medicare tax amount?
$28
200
In addition to an owner, these people also have claims against a company's assets.
Who are creditors?
300
Mary listed as her qualifications for a job that she is a problem solver and needs little direction to complete assigned tasks. This is classified as which skill?
21st century skillzz
300
Rent, the telephone bill, and advertising costs are classified as;
expenses
300
Jane's rare books purchased merchandise for cash from book distributors for $900. What is the entry for Jane's Rare Books to record this transaction?
Debit purchases $900; Credit cash $900.
300
Tim is really old and has gross earnings of $140,324,699.03 a year(he owns a boat too!) And the state senior citizens tax for Iowa(where he be old at) is 10.9%. what is his yearly senior citizens tax total?
15,295,392.19
300
If a business closes, the claims of these individuals are settled first.
Who are creditors?
400
A company is looking to hire an individual that can convert there manual accounting system to a computerized system, Lisa has an accounting degree with an emphasis in computerized systems. This is classified as which skill?
Workplace skillzz
400
Whats the journal entry for receiving a check from owner as an investment?
Debit cash and credit capital
400
Curt's Cabinets paid cash to Phil's fasteners $441; covering purchase invoice # 54 for $450, less a 2% discount, $9. What is the journal entry for Curt's Cabinets to record this transaction?
Debit accts. Payable/ Phil's fasteners $450; Credit purchase discount $9; Credit Cash $441
400
Shaniqua lives in a house with gross earnings of 38,000 a year and has a mortgage rate of 5.3% a month what is her monthly mortgage payment
167.83
400
This role is often confused with that of an accountant.
What is a bookkeeper?
500
La-a is able to read and write, this is an example of which skill?
Foundation skillz
500
What is the journal entry for buying supplies on account from Davis supply store?
Debit suppliezz and credit accounts payable/ Davis supply store.
500
Timer's distributing accepted returned merchandise purchased on account by serious sports for $400 plus sales tax of $32. What is the journal entry for Timer's distributing to record this transaction?
Debit sales returns and allowances $400; Debit Sales tax Payable $32; Credit Accts. rec, serious sports $432
500
Cali lives in California which has a state income tax of 6.2%; and Cali has gross earnings of 22,000 a year. what is her yearly state income amount?
1364
500
This represents the usual length of a fiscal period.
What is one year?
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