Debit or Credit?
Taxes!
Vocab
OPM
Possible XC?
100

Cash has a normal this side balance

What is Debit or Left?

100

This is the rate normally given for Social Security tax witholding.

What is 6.2%?

100

The rule that debits must equal credits

What is the accounting equation?

100

This is the main character of the movie.

Who is Lawrence Garfield or Larry the Liquidator?

100

Mr. Walker's cat

Who is Icarus?

200

Accounts Payable has a normal this side balance

What is credit/right?

200

This is the rate for Medicaid

What is 1.45%?
200

Reporting income and expenses when they occur.

What is accrual based accounting?

200

Lawrence Garfield is played by this actor.

Who is Danny DeVito?

200

Fav sports team?

New York Mets

300

This account set of numbers is associated with Capital?

What are the 300s?

300

The federal government uses these two rules when figuring your federal tax rate.

What is marriage status and children witholding?

300

A list of accounts used by a business.

What is a chart of accounts?

300

This three letter acronym is associated with the corporate takeover of New England Wire and Cable.

What is an LBO?

300

The name of Burger King is Australia?

What is Hungry Jacks?

400

Expenses decrease with a?

What is credit?

400

The standard number of working hours in a US week.

What is 40?

400

An amount owed

What is a liability?

400

This is the final sum that Larry the Liquidator thinks he can get from the Matsuyami company per share.

What is 30 dollars?

400

Mr. Walker's home town, state, country?

Ryde, New South Wales, Australia

500

This is the only capital account that has a normal debit side balance.

What is withdrawls?

500

This vocab word is associated with take home pay or after taxes.

What is net pay?

500

A business paper from which information is obtained for a journal entry.

What is a source document?

500

The country of origin of the company that bails out New England Wire and Cable.

What is Japan?

500

Favourite place for vacation in Florida?

What is EPCOT?