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Study sets matching "accounting century 21"

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Study sets matching "accounting century 21"

11 terms
Century 21 Accounting - Chapter 3
Journal
Journalizing
Entry
General journal
A form for recording transactions in chronological order.
Recording transactions in a journal.
Information for each transaction recorded in a journal.
A journal with two amount columns in which all kinds of entri…
Journal
A form for recording transactions in chronological order.
Journalizing
Recording transactions in a journal.
24 terms
Century 21 Accounting Chapter 12
Wage
Salary
Commission
Total Earnings
The amount paid to an employee for every hour worked
A fixed annual sum of money divided among equal pay periods
A method of paying an employee based on the amount of sales t…
The total amount paid by a business for an employee's work, e…
Wage
The amount paid to an employee for every hour worked
Salary
A fixed annual sum of money divided among equal pay periods
61 terms
Century 21 Accounting - Ch 9
Merchandise
Merchandising business
Retail merchandising business
Wholesale merchandising business
Goods that a business purchases in order to sell.
A business that purchases and resells goods.
A merchandising business that sells to those who use or consu…
A business that buys and resells merchandise primarily to oth…
Merchandise
Goods that a business purchases in order to sell.
Merchandising business
A business that purchases and resells goods.
21 terms
Century 21 Accounting Chapter 1
account
account balance
account title
accounting
a record summarizing all the information pertaining to a sing…
the amount in the account
the name given to an account
planning, recording, analyzing, and interpreting financial in…
account
a record summarizing all the information pertaining to a sing…
account balance
the amount in the account
29 terms
Century 21 Accounting Chapter 9
Merchandise
Merchandising Business
Retail Merchandising Business
Wholesale Merchandising Business
Goods that a business purchases to sell
A business that purchases and sells goods
A merchandising business that sells to those who use or consu…
A business that buys and resells merchandise to retail mercha…
Merchandise
Goods that a business purchases to sell
Merchandising Business
A business that purchases and sells goods
Century 21 Accounting Concepts
Accounting Period Cycle
Adequate Disclosure
Business Entity
Consistent Reporting
Changes in financial information are reported for a specific…
Financial statements contain all information necessary to... und…
Financial information is recorded and reported separately... fro…
The same accounting procedures must be followed in the same w…
Accounting Period Cycle
Changes in financial information are reported for a specific…
Adequate Disclosure
Financial statements contain all information necessary to... und…
20 terms
Century 21 Accounting - Chapter 2
Chart of accounts
Credit
Debit
Normal balance
A list of accounts used by a business.
The amount recorded on the right side of a T account.
The amount recorded on the left side of a T account.
The side of the account that is increased.
Chart of accounts
A list of accounts used by a business.
Credit
The amount recorded on the right side of a T account.
22 terms
Century 21 Accounting Chapter 1
Accounting
Accounting System
Accounting Records
Financial Statement
Planning, recording, analyzing, and interpreting financial in…
A planned process for providing financial information that wi…
Organized summaries of a business's financial activities
Financial reports that summarize the financial condition and…
Accounting
Planning, recording, analyzing, and interpreting financial in…
Accounting System
A planned process for providing financial information that wi…
22 terms
Century 21 Accounting Chapter 1
Accounting
Accounting System
Accounting Records
Financial Statement
Planning, recording, analyzing, and interpreting financial in…
A planned process for providing financial information that wi…
Organized summaries of a business's financial activities
Financial reports that summarize the financial condition and…
Accounting
Planning, recording, analyzing, and interpreting financial in…
Accounting System
A planned process for providing financial information that wi…
18 terms
Century 21 Accounting: Chapter 5
Checking Account
Deposit Slip
Endorsement
Blank Endorsement
A bank account from which payments can be ordered by a deposi…
A bank form which lists the checks, currency, and coins an ac…
A signature or stamp on the back of a check transferring owne…
An endorsement consisting only of the endorser's signature
Checking Account
A bank account from which payments can be ordered by a deposi…
Deposit Slip
A bank form which lists the checks, currency, and coins an ac…
54 terms
Century 21 Accounting - Ch. 12
wage
salary
commission
total earning
the amount paid to an employee for every hour worked
a fixed annual sum of money divided among equal pay periods
a method of paying an employee based on the amount of sales t…
the total amount paid by a business for an employee's work, e…
wage
the amount paid to an employee for every hour worked
salary
a fixed annual sum of money divided among equal pay periods
18 terms
Century 21 Accounting: Chapter 5
Checking Account
Deposit Slip
Endorsement
Blank Endorsement
A bank account from which payments can be ordered by a deposi…
A bank form which lists the checks, currency, and coins an ac…
A signature or stamp on the back of a check transferring owne…
An endorsement consisting only of the endorser's signature
Checking Account
A bank account from which payments can be ordered by a deposi…
Deposit Slip
A bank form which lists the checks, currency, and coins an ac…
42 terms
Century 21 Accounting - Ch. 14
Uncollectible Accounts
Allowance method
book value
book value of accounts receivable
Accounts receivable that cannot be collected.
Crediting the estimated value of uncollectible accounts to a…
The difference between an asset's account balance and its rel…
The difference between the balance of Accounts Receivable and…
Uncollectible Accounts
Accounts receivable that cannot be collected.
Allowance method
Crediting the estimated value of uncollectible accounts to a…
33 terms
Century 21 Accounting - Ch 6
Fiscal period
Fiscal year
Work sheet
Trial balance
The length of time for which a business summarizes it's finan…
A fiscal period consisting of 12 consecutive months.
A columnar accounting form used to summarize the general ledg…
A proof of equality of debits and credits in a general ledger.
Fiscal period
The length of time for which a business summarizes it's finan…
Fiscal year
A fiscal period consisting of 12 consecutive months.
36 terms
Century 21 Accounting - Ch 10
Selling price
Markup
Accounts receivable ledger
Sales tax
The amount a business receives from the sale of an item of me…
The amount a business adds to the cost of merchandise to arri…
A subsidiary ledger containing all accounts for charge custom…
A tax on a sale of merchandise or services
Selling price
The amount a business receives from the sale of an item of me…
Markup
The amount a business adds to the cost of merchandise to arri…
32 terms
Century 21 Accounting - Ch 11
General journal
Purchases return
Purchases allowance
Debit memorandum
A journal with two amount columns in which all kinds of entri…
Credit allowed for the purchase price of returned merchandise…
Credit allowed for part of the purchase price of merchandise…
A form prepared by the customer showing the price deduction t…
General journal
A journal with two amount columns in which all kinds of entri…
Purchases return
Credit allowed for the purchase price of returned merchandise…
32 terms
Century 21 Accounting - Ch 7
Deficit
Return on sales
Vertical analysis
Stakeholders
A negative balance that remains after total expenses are subt…
The ratio of net income to total sales.
Reporting an amount on a financial statement as a percentage…
Any persons or groups who will be affected by an action.
Deficit
A negative balance that remains after total expenses are subt…
Return on sales
The ratio of net income to total sales.
40 terms
Century 21 Accounting - Chapter 1
Accounting
Accounting system
Accounting records
Financial statements
Planning, recording, analyzing, and interpreting financial in…
A planned process for providing financial information that wi…
Organized summaries of a business' financial activities.
Financial reports tht summarize the financial condition and o…
Accounting
Planning, recording, analyzing, and interpreting financial in…
Accounting system
A planned process for providing financial information that wi…
49 terms
Century 21 Accounting - Ch. 15
unadjusted trial balance
beginning inventory
ending inventory
accrued revenue
a trial balance prepared before adjusting entries are posted.
the amount of inventory on hand at the beginning of a fiscal…
the actual count of merchandise at the end of a fiscal period.
revenue earned in one fiscal period but not received until a…
unadjusted trial balance
a trial balance prepared before adjusting entries are posted.
beginning inventory
the amount of inventory on hand at the beginning of a fiscal…
32 terms
Century 21 Accounting - Chapter 3
Journal
Journalizing
Entry
General journal
A form for recording transactions in chronological order.
Recording transactions in a journal.
Information for each transaction recorded in a journal.
A journal with two amount columns in which all kinds of entri…
Journal
A form for recording transactions in chronological order.
Journalizing
Recording transactions in a journal.
41 terms
Century 21 Accounting - Ch. 16
Operating revenue
Net sales
Cost of merchandise sold
Gross profit
The revenue earned by a business from its normal business ope…
The amount of sales, less sales discounts and sales returns a…
The original price of all merchandise sold during a fiscal pe…
The revenue remaining after cost of merchandise sold has been…
Operating revenue
The revenue earned by a business from its normal business ope…
Net sales
The amount of sales, less sales discounts and sales returns a…
13 terms
Century 21 Accounting Chap 3
Journal
Journalizing
Special Amount Column
General Amount Column
A form for recording transactions in chronological order
The process of recording business transactions in a journal.
A journal amount column headed with an account title.
A journal amount column that is not headed with an account ti…
Journal
A form for recording transactions in chronological order
Journalizing
The process of recording business transactions in a journal.
11 terms
Century 21 Accounting Vocab
Journal
Journalizing
Entry
General journal
A form for recording transactions in chronological order.
Recording transactions in a journal.
Information for each transaction recorded in a journal.
A journal with two amount columns in which all kinds of entri…
Journal
A form for recording transactions in chronological order.
Journalizing
Recording transactions in a journal.
7 terms
Century 21 Accounting Chapter 21
Accrual
Accrued interest expense
Accrued expenses
Deferral
An entry recording revenue before the cash is received or an…
Interest incurred but not yet paid
Expenses incurred in one fiscal period but not paid until a l…
An entry recording the receipt of cash before the related rev…
Accrual
An entry recording revenue before the cash is received or an…
Accrued interest expense
Interest incurred but not yet paid
29 terms
Century 21 Accounting Chapter 9
Merchandise
Merchandising Business
Retail Merchandising Business
Wholesale Merchandising Business
Goods that a business purchases to sell
A business that purchases and sells goods
A merchandising business that sells to those who use or consu…
A business that buys and resells merchandise to retail mercha…
Merchandise
Goods that a business purchases to sell
Merchandising Business
A business that purchases and sells goods
12 terms
Century 21 Accounting Chapter 12
salary
pay period
payroll
total earnings
the money paid for employee services
period covered by a salary payment
total amount earned by all employees for a pay period
total pay due for a pay period before deductions
salary
the money paid for employee services
pay period
period covered by a salary payment
8 terms
Century 21 Accounting Chapter 4
Ledger
General Ledger
Account Number
File Maintenance
A group of a accounts
A ledger that contains all accounts needed to prepare financi…
The number assigned to an account
The procedure for arranging accounts in a general ledger, ass…
Ledger
A group of a accounts
General Ledger
A ledger that contains all accounts needed to prepare financi…
16 terms
Century 21 Accounting Chapter 14
retained earnings
dividends
board of directors
declaring a dividend
an amount earned by a corporation and not yet distributed
earnings distributed to stockholders
a group of persons elected by the stockholders to manage a co…
action by a board of directors to distribute corporate earnin…
retained earnings
an amount earned by a corporation and not yet distributed
dividends
earnings distributed to stockholders
25 terms
Century 21 Accounting 9e
Account
account balance
account title
accounting
a record summarizing all the information pertaining to a sing…
the amount in a account
the name given to an account
planning,recording,analizing and interpreting financial infor…
Account
a record summarizing all the information pertaining to a sing…
account balance
the amount in a account
54 terms
Century 21 Accounting - Ch. 12
wage
salary
commission
total earning
the amount paid to an employee for every hour worked
a fixed annual sum of money divided among equal pay periods
a method of paying an employee based on the amount of sales t…
the total amount paid by a business for an employee's work, e…
wage
the amount paid to an employee for every hour worked
salary
a fixed annual sum of money divided among equal pay periods
22 terms
Century 21 Accounting - Chapter 1
Accounting
Accounting System
Accounting Records
Financial Statements
Planning, recording, analyzing, and interpreting financial in…
A planned process for providing financial information that wi…
Organized summaries of a business's financial activities
Financial reports that summarize the financial condition and…
Accounting
Planning, recording, analyzing, and interpreting financial in…
Accounting System
A planned process for providing financial information that wi…
13 terms
Century 21 Accounting Chapter 6
Fiscal Period
Fiscal Year
Work Sheet
Trial Balance
The lenght of time for which a business summarizes its financ…
A fiscal period consisting of 12 consecutive months
A columnar accounting form used to summarize the general ledg…
A proof of equality of debits and credits in a general ledger.
Fiscal Period
The lenght of time for which a business summarizes its financ…
Fiscal Year
A fiscal period consisting of 12 consecutive months
27 terms
Century 21 accounting
account
account balance
accounting title
accounting
a record summarizing all the information pertaining to a sing…
the amount in an account
the name given to an account
planning, recording, analyzing, and interpreting financial in…
account
a record summarizing all the information pertaining to a sing…
account balance
the amount in an account
27 terms
Century 21 Accounting
Account
Account balance
Account title
Accounting
a record summarizing all the information pertaining to a sing…
the amount in an account
the name given to an account
planning, recording, analyzing, and interpreting financial in…
Account
a record summarizing all the information pertaining to a sing…
Account balance
the amount in an account
27 terms
century 21 accounting
account
account balance
account title
accounting
a record summarizing all the information pertaining to a sing…
the amount in an account
the name given to an account
planning , recording ,analyzing, and interpreting finacial in…
account
a record summarizing all the information pertaining to a sing…
account balance
the amount in an account
Century 21 accounting terms
account
account balance
account title
accounting
a record summarizing all the information pertaining to a sing…
the amount in an account
the name given to an account
planning, recording, analyzing, and interpreting financial in…
account
a record summarizing all the information pertaining to a sing…
account balance
the amount in an account
126 terms
Accounting-Century 21
accumulated depreciation
book value
book value of accounts receivable
Capital stock
the total amount of depreciation expense that has been record…
the difference between an assets accounts balance and its rel…
the difference between the balance of Accounts Receivable and…
total shares of ownership in a corporation.
accumulated depreciation
the total amount of depreciation expense that has been record…
book value
the difference between an assets accounts balance and its rel…
13 terms
Century 21 Accounting Chapter 5
Code of Conduct
Checking Account
Endorsement
Blank Endorsement
A statement that guides the ethical behavior of a company and…
A bank account from which payments can be ordered by a deposi…
A signature or stamp on the back of a check transferring owne…
An endorsement consisting only of the endorser's signature
Code of Conduct
A statement that guides the ethical behavior of a company and…
Checking Account
A bank account from which payments can be ordered by a deposi…
8 terms
Century 21 Accounting Chapter 6
Fiscal Period
Work Sheet
Trial Balance
Adjustments
The length of time for which a business summarizes and report…
A columnar accounting form used to summarize the general ledg…
A proof of the equality of debits and credits in a general le…
Changes recorded on a work sheet to update general ledger acc…
Fiscal Period
The length of time for which a business summarizes and report…
Work Sheet
A columnar accounting form used to summarize the general ledg…
24 terms
Century 21 Accounting - Ch 11
Journal entries are sorted and summari…
An account in a general ledger that su…
A check mark in parentheses below the…
When a credit is posted to the account…
ledger accounts
a controlling account
in not posted
the previous balance is added to the new amount posted in the…
Journal entries are sorted and summari…
ledger accounts
An account in a general ledger that su…
a controlling account
36 terms
Century 21 Accounting - Ch 10
Selling price
Markup
Accounts receivable ledger
Sales tax
The amount a business receives from the sale of an item of me…
The amount a business adds to the cost of merchandise to arri…
A subsidiary ledger containing all accounts for charge custom…
A tax on a sale of merchandise or services
Selling price
The amount a business receives from the sale of an item of me…
Markup
The amount a business adds to the cost of merchandise to arri…
16 terms
Century 21 Accounting Ch. 1 WY
accounting
accounting system
accounting records
service business
Planning, recording, analyzing, and interpreting financial in…
A planned process for providing financial information that wi…
Organized summaries of a business's financial activities
A business that performs an activity for a fee
accounting
Planning, recording, analyzing, and interpreting financial in…
accounting system
A planned process for providing financial information that wi…
14 terms
Century 21 Accounting Chapter 10
Customer
Sales Tax
Sales Journal
Cash Sale
A person or business to whom merchandise or services are sold
A tax on a sale of merchandise or services
A special journal used to record only sales of merchandise on…
A sale in which cash is received for the total amount of the…
Customer
A person or business to whom merchandise or services are sold
Sales Tax
A tax on a sale of merchandise or services
15 terms
Accounting Final Century 21
Account payable ledger
Capital Stock
Controlling Account
Employees earning record
A Subsidiary ledger containing only accounting for vendors fr…
Total shares of ownership in a coporation
An account in a general ledger that summarizes all accounts i…
A business form used to record details affecting payments mad…
Account payable ledger
A Subsidiary ledger containing only accounting for vendors fr…
Capital Stock
Total shares of ownership in a coporation
22 terms
Century 21 Accounting Chapter 1
Accounting
Accounting System
Accounting Records
Financial Statement
Planning, recording, analyzing, and interpreting financial in…
A planned process for providing financial information that wi…
Organized summaries of a business's financial activities
Financial reports that summarize the financial condition and…
Accounting
Planning, recording, analyzing, and interpreting financial in…
Accounting System
A planned process for providing financial information that wi…
13 terms
Century 21 Accounting - Chapter 5
Code of Conduct
Checking Account
Endorsement
Blank Endorsment
A statement that guides the ethical behavior of a company and…
A bank account from which payments can be ordered by a deposi…
A signature or stamp on the back of a check transferring owne…
An endorsment consisting only of the endorser's signature
Code of Conduct
A statement that guides the ethical behavior of a company and…
Checking Account
A bank account from which payments can be ordered by a deposi…
8 terms
Century 21 Accounting - Chapter 6
Fiscal Period
Work Sheet
Trial Balance
Adjustments
The length of time for which a business summarizes and report…
A columnar accounting form used to summarize the general ledg…
A proof of the equality of debits and credits in a general le…
Changes recorded on a work sheet to update general ledger acc…
Fiscal Period
The length of time for which a business summarizes and report…
Work Sheet
A columnar accounting form used to summarize the general ledg…
29 terms
Century 21 Accounting Chapter 9
Merchandise
Merchandising Business
Retail Merchandising Business
Wholesale Merchandising Business
Goods that a business purchases to sell
A business that purchases and sells goods
A merchandising business that sells to those who use or consu…
A business that buys and resells merchandise to retail mercha…
Merchandise
Goods that a business purchases to sell
Merchandising Business
A business that purchases and sells goods
13 terms
Century 21 Accounting Chapter 6
Fiscal Period
Fiscal Year
Work Sheet
Trial Balance
The lenght of time for which a business summarizes its financ…
A fiscal period consisting of 12 consecutive months
A columnar accounting form used to summarize the general ledg…
A proof of equality of debits and credits in a general ledger.
Fiscal Period
The lenght of time for which a business summarizes its financ…
Fiscal Year
A fiscal period consisting of 12 consecutive months
11 terms
Century 21 Accounting - Chapter 3
Journal
Journalizing
Entry
General Journal
A form for recording transactions in chronological order
Recording transactions in a journal
Information for each transaction recorded in a journal
A journal with two amount columns in which all kinds of entri…
Journal
A form for recording transactions in chronological order
Journalizing
Recording transactions in a journal
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