ACCT 1025: Chapters 9 & 10

Front

An employee’s gross earnings minus the necessary payroll deductions equals the employee’s __________.

Back

net pay

Front

The amount of employees' __________ is recorded in the Wages Expense account.

Back

gross pay

Front

A worker who is paid an agreed amount for each week or month or year, regardless of the actual hours worked, is said to be paid on a(n) __________ basis.

Back

salary

Front

To arrive at an accurate balance on a bank reconciliation statement, deposits in transit should be:

Back

Added to the bank balance.

Front

Which account do you debit to create a Petty Cash fund?

Back

Petty Cash

Front

To transfer ownership of a check from one party to another.

Back

endorse

Front

Select the correct journal: Purchase merchandise on account.

Back

Purchases Journal

Front

Select the correct journal: Sale of merchandise for cash.

Back

Cash Receipts Journal

Front

An employee whose regular hourly rate is $8 and whose overtime rate is 1.5 times the regular rate worked 42 hours one week. The employee's gross pay was?

Back

$344

Front

What account do you debit to record the bank monthly service charge?

Back

Bank Fees Expense