| AB | |
| 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 Earnings | The Income an introduction account is closed right into the _________ account. |
| corporation | An company with the legal rights of a person and also which plenty of person may own. |
| income statement | An ________ is provided to report a business's jae won progress |
| Capital Stock | Total shares of ownership in a corporation. |
| cost that merchandise | The price a business pays for products it purchases to sell. |
| vendor | A business from which merchandise is purchased or gives or various other assets room bought. |
| purchase top top account | A transaction in i beg your pardon the merchandise purchase is to it is in paid for later. |
| purchase invoice | An invoice provided as a source paper for recording a purchase on account transaction. |
| cash payments | A one-of-a-kind journal supplied to record only cash payment transactions. |
| cash discount | A deduction that a vendor allows top top the invoice amount to encourage note payment. |
| contra account | An account that reduces a associated account top top a jae won statement. |
| purchase journal | A unique journal supplied to record only purchases of goods on account is referred to as a *. |
| sales journal | A distinct journal supplied to record just sales of goods on account. |
| cash receipts journal | A special journal used to record just cash receipt transactions. |
| subsidiary ledger | A ledger that is summarized in a solitary general ledger account. |
| accounts payable ledger | A subsidiary ledger containing only accounts for merchants from whom items space purchased or bought on account. |
| accounts unification ledger | A subsidiary ledger containing only accounts for charge customers. |
| controlling account | An account in a basic ledger that summarizes every accounts in a subsidiary ledger. |
| Posting | _____ frequently keeps each vendor account balance up to date. |
| Sales Journal | The journal that should be posted very first is the _____. |
| checkmark | A ________ 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. |
| salary | The money paid because that employee services. |
| payroll | The full amount earned by every employees because that a salary period. |
| withholding allowance | A remove from full earnings because that each person legally sustained by a taxpayer, consisting of the employee. |
| social defense tax | A federal tax paid because that old-age, survivors, and disability insurance. |
| Medicare tax | A federal taxation paid because that hospital insurance. |
| payroll register | A business type used to record payroll information. |
| net pay | The complete earnings payment to an employee after payroll taxes and also other deductions. |
| expenses | Employer business taxes are ___. |
| social security and Medicare | Payroll counting that room paid by both the employer and the employee space _____. |
| federal joblessness taxes | A commonwealth tax used for state and also federal bureaucratic expenses of the unemployment regimen is the ____. |
| merchandise inventory | The lot of goods on hand because that sale to client is dubbed ___. |
| Matching prices with Revenue | Recording prices in the accounting period in i beg your pardon the expenses add to earning revenue is an application of the accountancy concept ___. |
| liability | A declared dividend is classified together an _____. |
| worksheet | The function of a ______ is to arrangement adjustments and also summarize the information important to prepare gaue won statements. |
| plant assets | Assets 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 sales | Total sales much less sales discount and also sales returns and also allowances. |
| statement of stockholder's equity | A jae won statement the shows alters in a corporation's property for a budget period. |
| current liabilities | Liabilities due within a short time, commonly within a year. |
| long-term liabilities | Liabilities fan for more than a year. |
| share of stock | Each unit of ownership in a corporation. |
| post-closing trial balance | The 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. |
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