Ch 14 Accounting Word Scramble
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| Question | Answer |
| A _______ is an owner of one or more shares of a corporation. | stockholder |
| An amount earned by a corporation and not yet distributed to stockholders is called _________. | retained earnings |
| When a declared dividend is paid, _________ is debited. | Dividends Payable |
| A ______ is used to plan adjustments and summarize the information necessary to prepare financial statements. | work sheet |
| Federal income tax is an _____ of a corporation. | expense |
| The amount of federal income tax expense a corporation must pay is calculated using a tax rate table furnished by the _________________ . | Internal Revenue Service |
| The difference between an asset's account balance and its related contra account balance is called __________. | book value |
| The general ledger account in which merchandise inventory is recorded is titled ____. | Merchandise Inventory |
| Original Cost - Accumulated Depreciation = | Ending Book Value |
| The Supplies--Office amount in a work sheet's Trial Balance Debit column represents the value of supplies at the beginning of a fiscal period plus office supplies ____. | bought during the fiscal period |
| The two accounts used to record the adjustment for federal income tax are ____. | Federal Income Tax Payable and Federal Income Tax Expense |
| The two accounts used to adjust the uncollectible accounts are ____. | Uncollectible Accounts Expense and Allowance for Uncollectible Accounts |
| Which account is used for the investment of all owners of a corporation? | Capital Stock |
| Computers, sales display cases, furniture, and cash registers are examples of ____. | plant assets |
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julieoelschlager
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