Accounts

The adjusting entry for the depreciation expense of embalming equipment for the period includes which of the following entries: – Debit Depreciation Expense – Equipment/Credit Accumulated Depreciation – Equipment
Sale on account – A sale for which cash will be received at a later date
Audit Report – a report from a clearinghouse that lists errors to be corrected before a claim can be submitted to the payer
debit – an amount recorded on the left side of a T account
withdrawal – assets taken from a business for the owners personal use
yield a profit – Gewinn abwerfen
Certified Management Accountants – Certified Professionals who specialize in accounting and financial management knowledge. They typically work for a single company.
Contingent liability – A possible/maybe liability
Sentence one is a/n
straight foward – direct approach to a problem
Statement of stockholders equity – A financial statement that shows changes in a coporations ownership
Purchase return – Return of goods from the buyer to the seller for a cash or credit refund.
Evaluation Appropriate – ONLY WHEN
Likelihood of unfavorable outcome probable or remote
Client consents to disclosure after advising of consequences
Service business – A business that performs an activity for a fee
If a funeral home sells funeral service on a 30 day account, the entry to record the transaction would be to – Debit accounts receivable, credit sales
Sentence оne is а/n
Federal Income Tax Withholding. – The amount that an employer must withold from an employee's pay for income tax purposes.
Balance Sheet reports: – A company's financial position
FOB destination – freight terms indicating that ownership of goods remains with the seller until the goods reach the buyer
Note payable longer than a year – Non current liabilties
What does FITW stand for? – Federal income tax withholding

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