A list of employees and the payments due to each for a specific period of time.
What is payroll?
100
The three goals of this are
1. To obtain a given share of the market
2. To generate sales that produce a specific profit
3. To meet competitors' prices
What is Pricing?
100
John Boyd makes $20 an hour and works 40 hours. This is his gross earnings for that week.
What is $800?
200
Credit cards, consumer loans, and home equity loans are all types of this kind of financing.
What is Personal Financing?
200
In the Accounting equation, Assets = this.
What is Liabilities plus Owners Equity?
200
(Hourly rate * Hours worked) is used to calculate this, assuming no overtime.
What is Gross Earnings?
200
In this type of pricing method, the cost of the item is added to the markup to determine the selling price.
What is Product cost-plus pricing?
200
Beth Makes $10 an hour plus 10% commissions. She works 45 hours in a week and has $4500 in sales. This is the amount of her gross earnings.
Kyu hyaku ni ju go
What is $925
300
Character, Capacity, Capital, Collateral, and Conditions
What are the 5 c's of credit?
300
The fourth step in the Accounting Cycle
What is Post to the General Ledger?
300
The two major types of deductions.
What are deductions required by law and voluntary deductions?
300
Raw materials used to make a finished product. These are not incidental items such as glue.
What are Direct Materials?
300
Annie had $5000 worth of Light Sabers at the beginning of the year. He had $7,500 at the end of the year. He purchased $45,000 worth of Light Sabers during the year. This is his Cost of Merchandise Sold.
yonjunisengohyaku
What is $42,500?
400
Governmental loan program that allows businesses applying for loans of less than $150,000 to submit a one-page application with a small amount of documentation.
What is the LowDoc Program?
400
In this book that contains the accounts for a business, each account has its own page.
What is a General Ledger?
400
This type of inventory costing method, assumes that the products left in inventory are priced according to the last purchases made.
What is FIFO - first in first out?
400
The point at which total sales equals the total variable and fixed costs.
What is the break-even point?
400
Candy Land has started to sell of its inventory. Gumdrops are being sold for $5.00 each. Candy Land spends $0.45 to make each gumdrop. It's fixed costs are $5000 a month. Candy Land will have to sell this many gumdrops in order to break even.
senkyujukyu
What is 1099 gumdrops?
500
A company that provides private funding for a small businesses that need a substantial amount of immediate cash.
What is a Venture Capital Firm?
500
This is the financial document that represents the financial status of a business on the last day (one day only) of an accounting period.
What is the Balance Sheet?
500
The number of times you sell your inventory in a given period of time. Higher is better.
What is Inventory Turnover?
500
The number of units a business needs to sell to reach a target profit.
What is Target Sales?
500
Nintendo has a target profit of $1000 for it's first quarter. It sells each game for $30 and it costs $10 to make each game. The fixed costs at Nintendo are $5000 a month. This will be Nintendo's Target Sales in units.
sambyaku