an amount of money paid to an employee at a specified rate per hour worked
What is wages
100
financial rights to the assets of a business
What is equities
100
the money paid for employee services
What is salary
100
the period covered by a salary payment
What is pay period
100
the taxable income of a corporation
What is operating income
200
a special journal used to record only purchases of merchandise on account
What is purchases journal
200
the merchandise a business has on hand at the beginning of a fiscal period
What is beginning inventory
200
the depositing of an employee's net pay directly into his/her personal bank accounts: usually made through electronic funds transfer
What is direct deposit
200
the difference between total revenue and total expenses when total revenue is greater
What is net income
200
a decrease in owner's equity resulting from the operations of a business
What is expense
300
a business paper from which information is obtained for a journal entry
What is source document
300
a statement that reports the changes that have taken place in the retained earnings account during the fiscal period; prepared as a supporting document for the balance sheet
What is statement of retained earnings
300
a special journal used to record only cash receipt transactions
What is cash receipts journal
300
the revenue remaining after cost of merchandise sold has been deducted
What is gross profit on sales
300
total sales less sales discount and sales returns and allowances
What is net sales
400
the maximum amount of earnings on which a tax is calculated
What is tax base
400
a business form used to record payroll information
What is payroll register
400
an amount that is subtracted from an employee's gross earnings
What is deduction
400
the employee's year-to-date gross earnings for the employee's gross earnings from the beginning of the year through the end of each pay period
What is accumulated earnings
400
employers are required to pay overtime when employees covered by these laws work more than 40 hours per week
What is overtime rate
500
a business form used to record details affecting payments made to an employee
What is employee earnings record
500
total purchases less purchases discount and purchases returns and allowances
What is net purchases
500
the price a business pays for goods it purchases to sell
What is cost of merchandise
500
a special journal used to record only sales of merchandise on account
What is sales journal
500
the total amount earned by all employees for a pay period