An accounting entry with only one account being debited and only one account being credited.
An accounting entry with only one account being debited and only one account being credited.
A restricted asset for the purpose of retiring a bond.
The term that refers to the stock of a corporation which is traded on the stock exchanges (as opposed to stock that is privately held among a few individuals).
Regression analysis with only one independent variable.
Financial statements (such as the income statement and balance sheet) that summarize much of the detail into a few major lines of information.
Net sales is the gross amount of Sales minus Sales Returns and Allowances, and Sales Discounts for the time interval indicated on the income statement.
Analyzing financial statements by using financial ratios, horizontal analysis, and vertical analysis. To learn more, see Explanation of Financial Ratios.
See cost of goods sold.
Depreciation (Word Scramble) Download PDF To see each answer, press or click on the blue "Unscramble" button. If you have difficulty answering the following questions, learn more about this topic by reading our...
Journal Entries (Word Scramble) Download PDF To see each answer, press or click on the blue "Unscramble" button. 1. The accrual of interest expense is recorded in the _________ journal. GENERAL NERLEAG Unscramble GENERAL...
An employee fringe benefit provided by an employer that allows employees to be paid for a limited number of days per year when the employees are ill.
A heading that includes common stock and preferred stock.
See separation of duties.
A balance sheet with at least two columns of amounts. The column of amounts that is closest to the words will be the most recent amounts. The column furthest from the words will contain the oldest amounts. The older...
A person who is considered to be both the employer and the employee. For example, the sole owner of a sole proprietorship is self-employed.
See mixed expenses.
Our visual tutorial for the topic Balance Sheet gives you a step-by-step description of the components of the balance sheet. This is especially helpful in understanding the stockholders' equity section.
The total of interest and principal payments required to be paid on loans payable.
A person whose pay is based on an annual amount (instead of being based on an hourly rate of pay multiplied by actual hours worked). For example, the officers of a corporation and the heads of departments within a...
A highly summarized income statement
One of the main financial statements (along with the income statement and balance sheet). The cash flow statement reports the sources and uses of cash by operating activities, investing activities, financing activities,...
A term often used in present value calculations to distinguish a one-time cash amount from an annuity (or series of equal payments).
See post balance sheet event.
See mixed expenses.
An estimated income statement for a future period of time that is based on projected or budgeted transactions.
A budget that does not flex for changes in volume or activity.
This term is often associated with an investment in the bonds issued by another corporation if the bonds are traded on a bond exchange.
See sum-of-the-years’ digits method of depreciation.
The stockholders’ equity account that reports the par or stated value of the issued shares of common stock. If the common stock does not have a par or stated value, this account will report the amount received when...
Cash Flow Statement For multiple-choice and true/false questions, simply press or click on what you think is the correct answer. For fill-in-the-blank questions, press or click on the blank space provided. If you have...
See income statement. To learn more, see Explanation of Income Statement.
The current price for a commodity or other item to be delivered immediately.
Financial statements that reflect the total economic entity. For example, on a consolidated income statement a corporation having several subsidiaries would report the total of all of its companies’ sales that were...
Bookkeeping (Word Scramble) Download PDF To see each answer, press or click on the blue "Unscramble" button. If you have difficulty answering the following questions, learn more about this topic by reading our...
See stockholders’ equity.
The time required to set up a piece of production equipment.
Under the accrual basis of accounting, this account reports the cost of the temporary help services that a company used during the period indicated on its income statement.
A multi-column listing of the amounts needed to eliminate a balance in a systematic manner over the life of the item. For example, an amortization schedule for a 15-year mortgage loan would show the 180 payments. The...
Journals other than the general journal. Special or specialized journals include the cash receipts journal, the cash disbursements journal, the purchases journal, and the sales journal.
This visual tutorial for the topic Income Statement presents the key components and formats used on a corporation's income statement (which is also known as the statement of operations or profit and loss statement). The...
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