Mrts 1342 - Study guides, Class notes & Summaries

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

MRTS 1342 Launching a Business Questions and Answers What does market demographics refer to in the context of marketing analysis? - Answer-The study of human populations with respect to their size, density, distribution, composition, and income. What role does market analysis play in business strategy? - Answer-It guides decision-making based on market trends What do population trends focus on in marketing analysis? - Answer-Changes in the number and characteristics of people in a certain...

Net Pay -:- what you take home after taxes Steps in the Accounting Cycle -:- Analyze, Record, classifies, summarizes, reports, interprets common special journals -:- 1. sales journal 2. cash receipts journal 3. purchase journal 4. cash disbursement journal GAAP -:- Generally Accepted Accounting Principles Gross Profit Formula 2 0 2 4 / 2 0 2 5 | © copyright | This work may not be copied for profit gain | Excel! 2 | P a g e | G r a d e A + | 2 0 2 4 / 2 0 2 5 -:- net sales -...

Balance owed on limo -:- Liability Dodge chemical bill for new embalming machine -:- Liability Owner's share of Profits -:- Owner's Equity Wage Expense -:- Owner's Equity Caskets in a selection room -:- Asset Cash in the bank 2 0 2 4 / 2 0 2 5 | © copyright | This work may not be copied for profit gain | Excel! 2 | P a g e | G r a d e A + | 2 0 2 4 / 2 0 2 5 -:- Asset Personal investments in the business -:- Owner's Equity Paying a telephone bill -:- Owner's Equity...

MRTS 1342 Final Study Guide | Questions And Answers Latest {} A+ Graded | 100% Verified

MRTS 1342 Exam 1 | Questions And Answers Latest {} A+ Graded | 100% Verified

MRTS 1342 Exam 2 | Questions And Answers Latest {} A+ Graded | 100% Verified

Define Asset -:- Property of monetary value owned by a buisness What are the steps of the accounting process? -:- Analyze, record, classifies, summarize, reports, interprets Credit on expense account will ____________ it -:- Decrease What is the equation for balance sheet -:- Assets = liability + capital - withdrawal Chart of Accounts -:- A numbering system of accounts that lists the account titles and account numbers to be used by a company. Accounts payable will be shown on __...

What are endorsements -:- -where you sign the check (blank, special, qualified, restrictive) define payee -:- 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 -:- check not yet presented to the bank for payment or deducted from the bank balance Deposit in transit -:- -deposits not yet added to the bank balance Service Charge -:- a fee a bank charges for handling a checking a...

What does GAAP stand for? -:- Generally Accepted Accounting Principles What is the formula for statement of owner equity? -:- capital - withdrawals + revenue = equity The right side of the revenue account is -:- Credit What is the balance sheet formula? -:- assets = liabilities + capital - withdrawals On the T-Chart, debits are on the -:- Left What is the expanded accounting equation? 2 0 2 4 / 2 0 2 5 | © copyright | This work may not be copied for profit gain | Excel! 2 | P a...