ACCOUNTING II - FINAL EXAM

The amount of total current assets less total current liabilities.

• Working Capital

• Quick Ratio

• Gross Profit

A ledger that is summarized in a single general ledger account.

• Supporting Schedule

• Subsidiary Ledger

• Accounts Payable Ledger

Total liabilities divided by total assets.

• Debt Ratio

• Quick Ratio

• Net Worth

The subsidiary ledger containing vendor accounts.

• Payroll Register

• Subsidiary Ledger

• Accounts Payable Ledger

A report prepared to give details about an item on a principal financial statement.

• Purchase Allowance

• Horizontal Analysis

• Supporting Schedule

A federal tax paid for hospital insurance.

• Medicare Tax

• Withholding Allowance

• Working Capital

The difference between the balance of Accounts Receivable and its contra account, Allowance for Uncollectible Accounts.

• Debt Ratio

• Quick Ratio

• Book Value of Accounts Receivable

The operating revenue remaining after cost of merchandise sold has been deducted.

• Working Capital

• Gross Profit

• Cost of Merchandise Sold

A deduction from total earning for each person legally supported by a taxpayer, including the employee.

• Medicare Tax

• Withholding Allowance

• Working Capital

The original price of all merchandise sold during a fiscal period.

• Cost of merchandise sold

• Withholding Allowance

• Gross Profit