Accounting Uil Practice

salvage value – the estimated value of a fixed asset at the end of its useful life
Reasons for high gross cost – • Fleet mix (too many SUVs)
• Inflation
• Depreciation
Withholding allowance – A deduction from total earnings for each person legally supported by a taxpayer, including the employee
Commercial Paper – amounts owed to investors that must be repaid in less than 180 days; Interest is charged at a low rate because the money is borrowed for a short period of time;
Discount Period. – A specific number of days during which a discount is available if the account is paid.
Convertible bond – Can be changed to common stock at a set price
Liabilities – Amounts owed to creditors.
withdrawals – Gave $200 cash to the owner: debit ________
The bicoid mutation (bcd–) in fruit flies is inherited as a maternal effect recessive allele. What is the expected ratio of phenotypes in the offspring of a cross between a bcd+/bcd– female and a bcd+/bcd– male?
Cash 3430
Sales Discounts 70
Accounts recievable 3500 – Seller offers a discount for paying within a defined period
PW Audio offers 2/10, n/30 terms on $3500 of
Sauk pays within the discount period. Buyer pays within discount period($70 discount) how does seller record the discount
Going-concern assumption – Principle that prescribes financial statements to reflect the assumption that the business will continue operating
Prevention Costs – training, quality circles, quality engineering, audits of quality systems, statistical process control
otras provisiones – other allowances
STAFF – INDIRECTLY INVOLVED IN ACHIEVING THE BASIC OBJECTIVES FO AND THE ORGANIZATION.
The bicоid mutаtiоn (bcd–) in fruit flies is inherited аs а maternal effect recessive allele. What is the expected ratiо of phenotypes in the offspring of a cross between a bcd+/bcd– female and a bcd+/bcd– male?
accounting record – Organized summaries of a business's financial activites
Sales Discount – A cash discount on sales taken by a customer.
bonds payable decreases when… – the company repays money that it borrowed

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