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Worksheet
Income Statement
Balance Statement
Study Guide Questions
Beginning of year
100
Under "Worksheet", For month ended.....
What is the date
100
Under the Owner's name
What is income statement
100
December 31, 2012
What is Balance Sheet date
100
An endorsement restricting further transfer of a check's ownership
What is Restrictive Endorsement
100
One owner
What is Proprietorship.
200
Sales subtracted by all expenses is.....
What is net income
200
Sales subtracted by total expenses
What is Net Income
200
Cash, Petty Cash, Accounts Receivable, Supplies, Prepaid Insurance
What is Assets
200
A check with a further date on it.
What is Postdated Check
200
Assets=liabilities+Owners Equity
What is Accounting Equation
300
2 adjusting accounts that are affected are....
What is supplies and prepaid insurance expenses.
300
Percentage of Sales
What is 100%
300
Liabilities
What is Accounts Payable
300
A signature or stamp on the back of a check transferring ownership.
What is Endorsement
300
Liabilities, Capital, and Revenue.
What is accounts that are credited.
400
Accounts payable and Capital accounts
What is accounts that are credited in balance sheet catagory.
400
Advertising, Insurance, Miscellaneous, Rent........
What is alphabetical order.
400
Double Line
What is Assets are equal to total liabilities and owners equity
400
A form showing proof of a petty cash payment.
What is Petty Cash Slip.
400
Assets, Liabilities, and Owner's Equity.
What is Permanent Accounts.
500
Expenses are more than sales
What is net loss
500
Advertising EXPENSE, Insurance EXPENSE, Rent EXPENSE
What is expenses
500
$10,000-$5,000+$297
What is Total Capital
500
A computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents.
What is Electronic funds transfer.
500
Revenue, Expenses, Drawing, and Income Statement.
What is Temporary Accounts.