Mrts 1342 exam - Study guides, Class notes & Summaries

MRTS 1342 Final Exam Questions and Answers Which of the following is required on a General Price List: A. Establishment name B. Establishment address C. Establishment's telephone number D. Effective date of the GPL E. All of these - Answer-All of these A separate record of each employee's earning's earnings is called - Answer-Employee Earning Record Depreciation expense is based on estimates of useful lives and salvage value - Answer-True General Price List - Answer-The corners...

MRTS 1342 final exam | Questions And Answers Latest {} A+ Graded | 100% Verified

MRTS- 1342 final exam | Questions And Answers Latest {} A+ Graded | 100% Verified

MRTS 1342 Exam 2 Study Guide with Complete Solutions What are endorsements - Answer️️ --where you sign the check (blank, special, qualified, restrictive) define payee - Answer️️ -one to whom the check is payable, a person or company who will receive payment on a promissory note, check, draft or money order Define outstanding check - Answer️️ -check not yet presented to the bank for payment or deducted from the bank balance Deposit in transit - Answer️️ --deposits not yet ...

MRTS 1342 Exam 1 Study Guide with Complete Solutions Define Asset - Answer️️ -Property of monetary value owned by a buisness What are the steps of the accounting process? - Answer️️ -Analyze, record, classifies, summarize, reports, interprets Credit on expense account will ____________ it - Answer️️ -Decrease What is the equation for balance sheet - Answer️️ -Assets = liability + capital - withdrawal Chart of Accounts - Answer️️ -A numbering system of accounts that li...

MRTS 1342 Final Exam Study Guide with Complete Solutions Balance owed on limo - Answer️️ -Liability Dodge chemical bill for new embalming machine - Answer️️ -Liability Owner's share of Profits - Answer️️ -Owner's Equity Wage Expense - Answer️️ -Owner's Equity Caskets in a selection room - Answer️️ -Asset Cash in the bank - Answer️️ -Asset Personal investments in the business - Answer️️ -Owner's Equity Paying a telephone bill - Answer️️ -Owner's Equit...

MRTS- 1342 final exam Study Guide with Complete Solutions GAAP - Answer️️ -Generally Accepted Accounting Principles GAAP's Business Entity Assumption - Answer️️ -accounting principal that states that the financial records of any business The 3 Types of Companies in Managerial Accounting - Answer️️ -Service companies. Merchandising companies. Manufacturing companies. Financial Accounting - Answer️️ -is the collection of accounting data to create financial statements Man...

GAAP -:- Generally Accepted Accounting Principles GAAP's Business Entity Assumption -:- accounting principal that states that the financial records of any business The 3 Types of Companies in Managerial Accounting -:- Service companies. Merchandising companies. Manufacturing companies. Financial Accounting -:- is the collection of accounting data to create financial statements Managerial Accounting 2 0 2 4 / 2 0 2 5 | © copyright | This work may not be copied for profit gain | E...

MRTS 1342 Final Study Guide with 100% Correct Solutions What does GAAP stand for? - Answer️️ -Generally Accepted Accounting Principles What is the formula for statement of owner equity? - Answer️️ -capital - withdrawals + revenue = equity The right side of the revenue account is - Answer️️ -Credit What is the balance sheet formula? - Answer️️ -assets = liabilities + capital - withdrawals On the T-Chart, debits are on the - Answer️️ -Left What is the expanded accounti...