Category: Uncategorized

How much does the Federal Deposit Insurance Corporation (FDIC) currently insure per individual account at any one institution?

Laser Company paid a utility bill of $15,000 and rent of $25,000. As a result of these transactions, the stockholders’ equity _____.

If income thresholds used in the taxable income brackets were not adjusted upwards each year to allow for the effects of inflation, taxpayers would pay higher taxes simply because of inflation due to _____.

Which of the following accounts will transfer automatically to another person when the depositor dies?

The resources a business owns are called _____.

JNC Company provides services for cash. Which of the following financial statement elements would be affected as a result of this transaction?

To achieve one’s financial objectives, it is necessary to restrain from which of the following?

For EFG Co., the transaction “cash sales to customers at a profit” would _____.

XYZ Co. received $3,000 in payments from clients for services billed in a previous month. Which accounts will be affected and by what amounts under the accrual basis of accounting?

On June 1, Unison, Inc. purchased $2,400 worth of supplies on account. Prior to the purchase, the balance in the supplies account was $250. On December 31, the fiscal year-end for Unison, it is determined that $300 of supplies still remain. What is the balance in the supplies account after adjustment?