An employer is required to match and pay to the government the amount of income tax withheld from an employee's wages.

An employer withheld $1,000 for income tax and $300 for social security and medicare from its employees for the month - what do they owe the government ?

An item was purchased for $10 and we want a gross profit of 50%, what do we need to sell the item for ?

Cost Of Goods Sold = Beginning Inventory + Purchases - ________________.

The equity section of a balance sheet for what type of organization will include Common Stock.

A business's assets are $200,000 and owner's equity is $100,000. If assets decrease $50,000 and equity remains the same - what are liabilities ?

A credit to a liability account normally indicates -

The term used for the transfer of summarized debits and credits from the journals to the general ledger is -

Prepaid Insurance should appear in the balance sheet as -

Which of the following assets is the most liquid ?

The term basic financial statement(s) refers to

The steps performed during each accounting period are normally referred to as the -

The accounting rule or principle that requires a business to be accounted for separately from its owners is called the -

The bookkeeping process begins with -

If the liabilities of a business decreased $5,000 and the owner's equity increased $5,000 during a period, the assets of the business -

A bank statement includes -

Which of the following is used to adjust the balance per books when preparing a bank reconciliation ?

Using a source document such as a sales invoice as a basis for recording a transaction is based on what accounting principle ?

The accounting record used to prepare a customer ageing report is -

The book value of an asset is equal to its current market value less accumulated depreciation.