Payroll
The total earnings of an employee during a payroll period.
What is gross pay?
Calculates the value of inventory based on the cost of the last items purchased being the first sold
What is LIFO?
The loss in value of an asset over time
What is depreciation?
A form of interest bearing note used by corporations to borrow on a long-term basis.
What is a bond?
The expression of a financial statement item as a percentage of another.
What is a ratio?
The total earnings of an employee minus deductions
What is net pay?
Calculates the value of inventories based on the average price per unit.
What is Weighted Average?
A method that provides for equal periodic depreciation expense over the useful life of the asset.
What is straight-line depreciation?
The underlying contract between the company issuing the bonds and the bondholders.
What is a bond indenture?
Financial analysis that compares and item in a current statement with the same item in a prior statement in terms of amount ad percentage of change.
What is horizontal analysis?
Tax that pays administrative costs of unemployment.
What is FUTA?
Calculates the value of inventory based on the first items purchased being the first sold.
What is FIFO?
A method that provides for equal amounts of depreciation per unit of activity.
What is units of output/activity depreciation?
When a bond is worth more than the face value on the market.
What is a bond premium?
An analysis that compares each item in a current statement with a total or key amount within the same statement.
What is vertical analysis?
Tax that pays for unemployment through the state.
What is SUTA?
Items purchased and held for sale
What is inventory?
The expected value of an asset after it is fully depreciated.
What is the salvage value?
When a bond is sold for less than its face value.
What is a bond discount?
Current assets minus current liabilities.
What is working capital?
Federal Insurance Contribution Act
What is FICA?
Items are placed in this account after being sold for the cost they were purchased at.
What is cost of good sold?
A contra asset account that reduces the historical cost of an asset to the book value on the balance sheet.
What is accumulated depreciation?
A fund set up to accumulate money to pay a bond when it matures.
What is a sinking fund?
Current assets divided by current liabilities.
What is the current ratio?