Show:
Payroll
Classifications
Closing Entries
Financial Statements
Journalizing
100
Overtime may be paid if you work more than this many hours a week.
What is 40
100
Accounts Payable
What is Liability
100
What accounts are closed at the end of the fiscal year?
What are temporary accounts
100
In what order do you prepare the formal financial statements?
What is Income Statement, SCOE, Balance Sheet
100
You received a bill for repairing the windows after the were broken.
What is debit Maintenance Expense, Credit AP
200
These are taxes that only the employer pays
What are federal unemployment and state unemployment
200
Accounts Receivable
What is asset
200
In what order are closing entries completed?
What is R,E,I,W
200
What accounts are in the Income Statement.
What are Revenue and Expenses
200
The owner gave the company a computer to use.
What is Debit Computer Equipment, Credit Capital
300
When recording the payroll for employees, what account would you debit?
What is Salaries expense
300
Landscape Fees
What is revenue
300
Expenses are closed into what account?
What is Income Summary.
300
What does SCOE stand for?
What is Statement of Changes in Owner's Equity
300
You purchased ink and paper for the office, paid cash.
What is Office Supplies - debit, cash credit
400
When recording the payroll for your employees, why would you credit cash?
What is record the net pay for the employees.
400
Withdrawals
What is owner's equity
400
What is Income Summary closed into?
What is Capital?
400
What information flows from one statement to another?
What is Net income to SCOE, Ending capital to Balance Sheet
400
You buy a new machine for the warehouse, paying 20% down and promise to pay the rest in 60 days.
What is Machine - debit, Cash - credit, AP - Credit
500
What IRS form is filled out when someone first starts a job?
What is a W-4 form
500
Income Summary
What is Owner's Equity
500
What is the normal balance for Income Summary?
There is none!
500
What does the Balance Sheet prove?
What is that the Accounting equation balances.... A=L+OE
500
The owner takes money out for personal use.
What is debit - withdrawals, credit Cash