balance sheet
After all the closeup of the door entries space posted, the ______ accounts room the only basic ledger accounts that have actually balances.

You are watching: A journal that is used to record and post transactions of a similar type is a(n):

Retained EarningsThe Income an introduction account is closed right into the _________ account.
corporationAn company with the legal rights of a person and also which plenty of person may own.
income statementAn ________ is provided to report a business's jae won progress
Capital StockTotal shares of ownership in a corporation.
cost that merchandiseThe price a business pays for products it purchases to sell.
vendorA business from which merchandise is purchased or gives or various other assets room bought.
purchase top top accountA transaction in i beg your pardon the merchandise purchase is to it is in paid for later.
purchase invoiceAn invoice provided as a source paper for recording a purchase on account transaction.
cash paymentsA one-of-a-kind journal supplied to record only cash payment transactions.
cash discountA deduction that a vendor allows top top the invoice amount to encourage note payment.
contra accountAn account that reduces a associated account top top a jae won statement.
purchase journalA unique journal supplied to record only purchases of goods on account is referred to as a *.
sales journalA distinct journal supplied to record just sales of goods on account.
cash receipts journalA special journal used to record just cash receipt transactions.
subsidiary ledgerA ledger that is summarized in a solitary general ledger account.
accounts payable ledgerA subsidiary ledger containing only accounts for merchants from whom items space purchased or bought on account.
accounts unification ledgerA subsidiary ledger containing only accounts for charge customers.
controlling accountAn account in a basic ledger that summarizes every accounts in a subsidiary ledger.
Posting_____ frequently keeps each vendor account balance up to date.
Sales JournalThe journal that should be posted very first is the _____.
checkmarkA ________ is placed in parentheses listed below the basic Debit and also General Credit pillar totals in the journal to suggest that the two column totals are not posted.
salaryThe money paid because that employee services.
payrollThe full amount earned by every employees because that a salary period.
withholding allowanceA remove from full earnings because that each person legally sustained by a taxpayer, consisting of the employee.
social defense taxA federal tax paid because that old-age, survivors, and disability insurance.
Medicare taxA federal taxation paid because that hospital insurance.
payroll registerA business type used to record payroll information.
net payThe complete earnings payment to an employee after payroll taxes and also other deductions.
expensesEmployer business taxes are ___.
social security and MedicarePayroll counting that room paid by both the employer and the employee space _____.
federal joblessness taxesA commonwealth tax used for state and also federal bureaucratic expenses of the unemployment regimen is the ____.
merchandise inventoryThe lot of goods on hand because that sale to client is dubbed ___.
Matching prices with RevenueRecording prices in the accounting period in i beg your pardon the expenses add to earning revenue is an application of the accountancy concept ___.
liabilityA declared dividend is classified together an _____.
worksheetThe function of a ______ is to arrangement adjustments and also summarize the information important to prepare gaue won statements.
plant assetsAssets that will certainly be used for a variety of years in the operation of a business are called ______.
accumulated depreciation_______ is the depreciation expense that has been recorded since the acquisition of a plant asset.
net salesTotal sales much less sales discount and also sales returns and also allowances.
statement of stockholder's equityA jae won statement the shows alters in a corporation's property for a budget period.
current liabilitiesLiabilities due within a short time, commonly within a year.
long-term liabilitiesLiabilities fan for more than a year.
share of stockEach unit of ownership in a corporation.
post-closing trial balanceThe function of the ________ is to prove the general ledger equality that debits and credits.

See more: How To Move Around In Maya Camera Rotate Around A Point? Maya Shortcuts

temporary accounts____ room closed at the finish of a fiscal period to prepare the general ledger because that the following fiscal period.
Create your very own activities