NAME: ________________________

MOD A - Unit 1 Kinn's Ch. 24 Test

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5 Written Questions

5 Matching Questions

  1. amount sufficient for the petty cash fund.
  2. All wages are subject to the Medicare tax at a rate of ___% each for both employees and employers.
  3. Statement
  4. Three types of accounting systems
  5. Accrual basis of accounting
  1. a 1.45%
  2. b single-entry system, double-entry system, and pegboard (write-it-once) system
  3. c Method of accounting in which income is recorded when earned and expenses are recorded when incurred.
  4. d $25 to $50
  5. e A request for payment.

5 Multiple Choice Questions

  1. Receipts usually are deposited in the ckecking account, and a record of the deposit is entered in the journal and on the check register.
  2. usually consists of a section at the bottom of each day sheet and a check register page at the end of each month, plus monthly and annual summaries.
  3. Enter all charges and receipts immediately in the daily record or journal. Post all cahrges and receipts to the patient ledger daily. Do not erase, write over, or blot out figures.
  4. The entire property of a person, association, corporation, or estate applicable or subject to the payment of debts.
  5. A record or notation of an occurrence, transaction, or proceeding.

5 True/False Questions

  1. Before the end of the first pay period, the employee should complete aForm W-4

          

  2. Disbursement journals must showAuto expenses, dues and meetings, equipment, insurance, medical supplies, office expenses, printing, postage and, stationary, rent and maintenance, salaries, taxes and licenses, travel and entertainment, utilities, miscellaneous, personal withdrawals.

          

  3. BookkeepingEnter all charges and receipts immediately in the daily record or journal. Post all cahrges and receipts to the patient ledger daily. Do not erase, write over, or blot out figures.

          

  4. Government regulations require the withholding of taxes from employees and payment of certain taxes by bothForm W-4

          

  5. Accounting four-stagesAmounts owed to the physician.

          

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