A purchase of equipment on account would cause what account to be credited?
What is Accounts Payable
100
This ratio allows us to determine if the individual has the capacity to repay a loan.
What is debt to income ratio
100
This form is filled for Hawaii State Returns.
What is N11
100
This reduces the amount of taxes that are owed.
What are Credits.
200
What account is credited when Maria Sanchez deposits cash into a business account to start a business.
What is Capital.
200
Rent Expense increase.
What is Debit
200
This looks at a persons ability to have repaid loans in the past. Often called Credit History.
What is Character.
200
This is filed for your Federal Taxes.
What is 1040
200
This is the Federal Standard Deduction for those who file Single.
What is $6,300.
300
This is what Accounts Payable and Receivable are commonly referred to as.
What are Temporary Accounts.
300
This is the normal side balance for Asset accounts.
What is Debit
300
You are subject to this if your down payment is less than 20%
What is PMI
300
Besides a Photo ID and Social Security Card, most people will need this document to prepare their taxes.
What is W2
300
This is a credit used to help individuals who make under a certain income level. The amount of support varies based on income and number of children or no children.
What is the Earned Income Credit
400
This is a chronological list of all transactions.
What is the General Journal.
400
This is Credited when making a withdrawal from the business.
What is Cash.
400
This refers to fees that home owners must pay to upkeep the surrounding areas and possible cover utilities.
What is HOA Fees
400
This is used to Itemize Deductions.
What is Schedule A
400
This is the federal standard deduction for Head of Household.
What is $9,300
500
This is used to determine what tax bracket you are in and how much taxes owed annually.
What is Adjusted Gross Income (AGI)
500
This is credited when people pay you for charges they have on account with your company.
What is Accounts Receivable.
500
Paying an additional $200/month for your mortgage will reduce your 30 year mortgage by how many years?
What is 7 years.
500
This form is used to change the withholding on your federal taxes.
What is W4
500
This filing status does not allow you to earn an Education Credit.