EOPA Review

Sales tax is applied at the rate of 6.5%. Sales of merchandise for $100 would credit Sales Tax

$3,000 in credit card sales and 3% discount rate on credit card deposits. The entry to record

A direct deposit made to an employee's account is known as a/an

The business form sent monthly to each charge customer is known as a

When posting adjusting entries from page 8 of a general journal, what goes in the Post. Ref.?

In an electronic spreadsheet, the intersection of a row and a column is called a

If a debit entry of $150 is incorrectly posted as a credit, the trial balance will be off by...

The term for changing the arrangement of digits in a number is called

Cash flows are based on receipts and

An audit trail is the transaction flow from the point of origination to the

The journal entry to record cash investment by the owner would be to debit Cash and credit

Which of the following organizations establishes standards for financial account and reporting?

Tax that is paid by employers to provide temporary relief for individuals who are out of work

A business form that is prepared after merchandise is sold to a customer is called

Checks that are paid by the bank and then removed from depositor's accounts are called?

On a discounted 6%, 6month, non-interest bearing note for 5K, the bank would credit account for

A check is a/an

Adjusting entries are recorded in the general ledger

Employee earns 7% commission of total sales. Total sales were $2,345. What was the commission?

Copying debits and credits from a journal to a ledger is a process known as

A controlling account is a/an

Susan opened a business and invested $5,000 cash and computer worth $2,500. These will increase

To prove the accuracy of posting, an accountant uses the

An endorsed check must have an authorized ___ on the back of the check.

A bank statement reconciliation is

The amount of liabilities compared to stockholder's equity is known as the

A purchase of a computer with cash

An invoice on March 10 with terms 3/60, n90 means a 3% discount is given if the invoice is paid

An employee works 38 hrs/wk, $8.50/hr, paid biweekly. What is the gross pay for the pay period?

A corporation pays ____ to it's stockholders.

A W-2 form is a/an

Accts Rec $8,600 then received a check ($3,455) from a customer they did work for. New balance?

Jason invested 15K cash to start his business. How would this impact accounting equation?

A promissory note is the source document for issuing a

The two accounts used to adjust the merchandise inventory are Income Summary and

To prevent identity theft