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Study sets matching "i arkansas accounting"

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Study sets matching "i arkansas accounting"

10 terms
Arkansas Accounting 1 Ch. 2
T account
Debit
Credit
Normal Balance
an accounting device used to analyze transactions
an amount recorded on the left side of an account
an amount recorded on the right side of an account
the side of an account that is increased
T account
an accounting device used to analyze transactions
Debit
an amount recorded on the left side of an account
15 terms
Arkansas Accounting 1 Chapter 6
Consistent Reporting
Fiscal Period
Fiscal Year
Trial Balance
The accounting concept that says the same accounting procedur…
The length of time for which a business summarizes its financ…
A fiscal period consisting of 12 consecutive months
A proof of the equality of debits and credits in a general le…
Consistent Reporting
The accounting concept that says the same accounting procedur…
Fiscal Period
The length of time for which a business summarizes its financ…
20 terms
Arkansas Accounting 1 Chapter 5
postdated check
voided check
bank statement
canceled check
a check with a future date on it
a check that cannot be processed because the maker has made i…
a report of deposits, withdrawals, and bank balances sent to…
a check which has been paid by the bank
postdated check
a check with a future date on it
voided check
a check that cannot be processed because the maker has made i…
27 terms
Arkansas Accounting I Unit 1
Accountant
Accounting
Accounting concepts
Accounting period cycle
a person who plans, summarizes, analyzes, and interprets acco…
planning, recording, analyzing, and interpreting financial in…
commonly accepted concepts that guide accounting personnel in…
changes in financial information are reported for a specific…
Accountant
a person who plans, summarizes, analyzes, and interprets acco…
Accounting
planning, recording, analyzing, and interpreting financial in…
27 terms
Arkansas Accounting I Unit 1
Accountant
Accounting
Accounting concepts
Accounting period cycle
a person who plans, summarizes, analyzes, and interprets acco…
planning, recording, analyzing, and interpreting financial in…
commonly accepted concepts that guide accounting personnel in…
changes in financial information are reported for a specific…
Accountant
a person who plans, summarizes, analyzes, and interprets acco…
Accounting
planning, recording, analyzing, and interpreting financial in…
15 terms
Arkansas Accounting 1 Chapter 6
Consistent Reporting
Fiscal Period
Fiscal Year
Trial Balance
The accounting concept that says the same accounting procedur…
The length of time for which a business summarizes its financ…
A fiscal period consisting of 12 consecutive months
A proof of the equality of debits and credits in a general le…
Consistent Reporting
The accounting concept that says the same accounting procedur…
Fiscal Period
The length of time for which a business summarizes its financ…
20 terms
Arkansas Accounting 1 Chapter 5
postdated check
voided check
bank statement
canceled check
a check with a future date on it
a check that cannot be processed because the maker has made i…
a report of deposits, withdrawals, and bank balances sent to…
a check which has been paid by the bank
postdated check
a check with a future date on it
voided check
a check that cannot be processed because the maker has made i…
44 terms
Computerized Accounting 1 - Unit 2 (Arkansas)
Account
Account balance
Account number
Account title
a record summarizing all the information pertaining to a sing…
the amount in an account
the number assigned to an account
the name given to an account
Account
a record summarizing all the information pertaining to a sing…
Account balance
the amount in an account
12 terms
Computerized Accounting 1 - Unit 3 (Arkansas)
Automated teller machine (ATM)
Bank reconciliation
Bank statement
Blank endorsement
electronic machine from which cash deposits and withdrawals c…
bringing into agreement a bank statement with a party's cash…
a report of deposits, withdrawals, and bank balances sent to…
an endorsement that consists only of the endorser's signature…
Automated teller machine (ATM)
electronic machine from which cash deposits and withdrawals c…
Bank reconciliation
bringing into agreement a bank statement with a party's cash…
56 terms
Computerized Accounting 1 - Unit 4 (Arkansas)
Accounts payable ledger
Accounts receivable ledger
Batch report
Batching out
a subsidiary ledger containing only accounts for vendors from…
a subsidiary ledger containing only accounts for charge custo…
a report which gives performance information over a specific…
closing out all the transactions on the system that were proc…
Accounts payable ledger
a subsidiary ledger containing only accounts for vendors from…
Accounts receivable ledger
a subsidiary ledger containing only accounts for charge custo…
18 terms
Computerized Accounting 1 - Unit 5 (Arkansas)
941
Employee earnings record
Employer's payroll taxes
Federal unemployment tax
employer's quarterly federal tax return
business form used to record details affecting payments made…
taxes owed to the government by the employer based on payroll
tax paid by employers to provide funds for workers who are te…
941
employer's quarterly federal tax return
Employee earnings record
business form used to record details affecting payments made…
29 terms
Arkansas Accounting 1 Chapter 1 Vocabulary
Account
Account Balance
Account Title
Accounting
A record that summarizes all the transactions pertaining to a…
The difference between the increases and decreases in an acco…
The name given to an account.
The process of planning, recording, analyzing, and interpreti…
Account
A record that summarizes all the transactions pertaining to a…
Account Balance
The difference between the increases and decreases in an acco…
Arkansas Accounting I Unit 1
Accountant
Accounting
Accounting concepts
Accounting period cycle
a person who plans, summarizes, analyzes, and interprets acco…
planning, recording, analyzing, and interpreting financial in…
commonly accepted concepts that guide accounting personnel in…
changes in financial information are reported for a specific…
Accountant
a person who plans, summarizes, analyzes, and interprets acco…
Accounting
planning, recording, analyzing, and interpreting financial in…
27 terms
Computerized Accounting 1 - Unit 1 (Arkansas)
Accountant
Accounting
Accounting Concepts
Accounting period cycle
a person who plans, summarizes, analyzes, and interprets acco…
planning, recording, analyzing, and interpreting financial in…
commonly accepted concepts that guide accounting personnel in…
changes in financial information are reported for a specific…
Accountant
a person who plans, summarizes, analyzes, and interprets acco…
Accounting
planning, recording, analyzing, and interpreting financial in…
71 terms
Arkansas Accounting I Unit 1, Arkansas Accounting I Unit 2
Accountant
Accounting
Accounting concepts
Accounting period cycle
a person who plans, summarizes, analyzes, and interprets acco…
planning, recording, analyzing, and interpreting financial in…
commonly accepted concepts that guide accounting personnel in…
changes in financial information are reported for a specific…
Accountant
a person who plans, summarizes, analyzes, and interprets acco…
Accounting
planning, recording, analyzing, and interpreting financial in…
11 terms
Arkansas Accounting 1 Chapter 3 Vocab Practice
Journal
Journalizing
Entry
Double-Entry Accounting
a form for recording transactions in chronological order
recording transactions in a journal
information for each transaction in a journal
the recording of debit and credit parts of a transaction
Journal
a form for recording transactions in chronological order
Journalizing
recording transactions in a journal
10 terms
Arkansas Accounting 1 Ch. 2 Practice Test
T account
Debit
Credit
Normal Balance
an accounting device used to analyze transactions
an amount recorded on the left side of an account
an amount recorded on the right side of an account
the side of an account that is increased
T account
an accounting device used to analyze transactions
Debit
an amount recorded on the left side of an account
157 terms
Arkansas Accounting Units 1-5 EOC
941
Employee earnings record
Employer's payroll taxes
Federal unemployment tax
employer's quarterly federal tax return
business form used to record details affecting payments made…
taxes owed to the government by the employer based on payroll
tax paid by employers to provide funds for workers who are te…
941
employer's quarterly federal tax return
Employee earnings record
business form used to record details affecting payments made…
14 terms
Arkansas Accounting I Unit 1
Accountant
Accounting
Accounting concepts
Accounting period cycle
a person who plans, summarizes, analyzes, and interprets acco…
planning, recording, analyzing, and interpreting financial in…
commonly accepted concepts that guide accounting personnel in…
changes in financial information are reported for a specific…
Accountant
a person who plans, summarizes, analyzes, and interprets acco…
Accounting
planning, recording, analyzing, and interpreting financial in…
27 terms
Computerized Accounting 1 - Unit 1 (Arkansas)
Accountant
Accounting
Accounting Concepts
Accounting period cycle
a person who plans, summarizes, analyzes, and interprets acco…
planning, recording, analyzing, and interpreting financial in…
commonly accepted concepts that guide accounting personnel in…
changes in financial information are reported for a specific…
Accountant
a person who plans, summarizes, analyzes, and interprets acco…
Accounting
planning, recording, analyzing, and interpreting financial in…
27 terms
Arkansas Accounting I Unit 1
Accountant
Accounting
Accounting concepts
Accounting period cycle
a person who plans, summarizes, analyzes, and interprets acco…
planning, recording, analyzing, and interpreting financial in…
commonly accepted concepts that guide accounting personnel in…
changes in financial information are reported for a specific…
Accountant
a person who plans, summarizes, analyzes, and interprets acco…
Accounting
planning, recording, analyzing, and interpreting financial in…
11 terms
Arkansas Accounting I - Accounting Concepts
Historical cost concept
Accounting period cycle concept
Adequate disclosure concept
Business entity concept
the actual amount paid for merchandise or other items bought…
changes in financial information are reported for a specific…
financial statements that contain all information necessary t…
financial information is recorded and reported separately fro…
Historical cost concept
the actual amount paid for merchandise or other items bought…
Accounting period cycle concept
changes in financial information are reported for a specific…
11 terms
Arkansas Accounting I - Accounting Concepts
Historical cost concept
Accounting period cycle concept
Adequate disclosure concept
Business entity concept
the actual amount paid for merchandise or other items bought…
changes in financial information are reported for a specific…
financial statements that contain all information necessary t…
financial information is recorded and reported separately fro…
Historical cost concept
the actual amount paid for merchandise or other items bought…
Accounting period cycle concept
changes in financial information are reported for a specific…
27 terms
Computerized Accounting 1 - Unit 1 (Arkansas)
Accountant
Accounting
Accounting Concepts
Accounting period cycle
a person who plans, summarizes, analyzes, and interprets acco…
planning, recording, analyzing, and interpreting financial in…
commonly accepted concepts that guide accounting personnel in…
changes in financial information are reported for a specific…
Accountant
a person who plans, summarizes, analyzes, and interprets acco…
Accounting
planning, recording, analyzing, and interpreting financial in…
56 terms
Computerized Accounting 1 - Unit 4 (Arkansas)
Accounts payable ledger
Accounts receivable ledger
Batch report
Batching out
a subsidiary ledger containing only accounts for vendors from…
a subsidiary ledger containing only accounts for charge custo…
a report which gives performance information over a specific…
closing out all the transactions on the system that were proc…
Accounts payable ledger
a subsidiary ledger containing only accounts for vendors from…
Accounts receivable ledger
a subsidiary ledger containing only accounts for charge custo…
35 terms
Accounting 1 Jason Fowler: University of Arkansas
Assets
Liabilities
Stockholders' Equity
Dividends
Resources owned
Amounts owned
Owners claim to resources
Distributions to stockholders
Assets
Resources owned
Liabilities
Amounts owned
18 terms
Computerized Accounting 1 - Unit 5 (Arkansas)
941
Employee earnings record
Employer's payroll taxes
Federal unemployment tax
employer's quarterly federal tax return
business form used to record details affecting payments made…
taxes owed to the government by the employer based on payroll
tax paid by employers to provide funds for workers who are te…
941
employer's quarterly federal tax return
Employee earnings record
business form used to record details affecting payments made…
44 terms
Computerized Accounting 1 - Unit 2 (Arkansas)
Account
Account balance
Account number
Account title
a record summarizing all the information pertaining to a sing…
the amount in an account
the number assigned to an account
the name given to an account
Account
a record summarizing all the information pertaining to a sing…
Account balance
the amount in an account
Arkansas Accounting Units 1-5 EOC
941
Employee earnings record
Employer's payroll taxes
Federal unemployment tax
employer's quarterly federal tax return
business form used to record details affecting payments made…
taxes owed to the government by the employer based on payroll
tax paid by employers to provide funds for workers who are te…
941
employer's quarterly federal tax return
Employee earnings record
business form used to record details affecting payments made…
15 terms
Arkansas Accounting Competency Questions 1-15
Planning, recording, analyzing, and in…
An economic term that refers to a syst…
John Smith bought a car for $10,000. H…
An example of a servise business is____.
Accounting
Free Enterprise
Profit
Smith's Medical Center
Planning, recording, analyzing, and in…
Accounting
An economic term that refers to a syst…
Free Enterprise
12 terms
Arkansas Accounting I Unit 3
Automated teller machine (ATM)
Bank reconciliation
Bank statement
Blank endorsement
electronic machine from which cash deposits and withdrawals c…
bringing into agreement a bank statement with a party's cash…
a report of deposits, withdrawals, and bank balances sent to…
an endorsement that consists only of the endorser's signature…
Automated teller machine (ATM)
electronic machine from which cash deposits and withdrawals c…
Bank reconciliation
bringing into agreement a bank statement with a party's cash…
Computerized Accounting 1 - Unit 4 (Arkansas)
Accounts payable ledger
Accounts receivable ledger
Batch report
Batching out
a subsidiary ledger containing only accounts for vendors from…
a subsidiary ledger containing only accounts for charge custo…
a report which gives performance information over a specific…
closing out all the transactions on the system that were proc…
Accounts payable ledger
a subsidiary ledger containing only accounts for vendors from…
Accounts receivable ledger
a subsidiary ledger containing only accounts for charge custo…
Computerized Accounting 1 - Unit 5 (Arkansas)
941
Employee earnings record
Employer's payroll taxes
Federal unemployment tax
employer's quarterly federal tax return
business form used to record details affecting payments made…
taxes owed to the government by the employer based on payroll
tax paid by employers to provide funds for workers who are te…
941
employer's quarterly federal tax return
Employee earnings record
business form used to record details affecting payments made…
Computerized Accounting 1 - Unit 3 (Arkansas)
Automated teller machine (ATM)
Bank reconciliation
Bank statement
Blank endorsement
electronic machine from which cash deposits and withdrawals c…
bringing into agreement a bank statement with a party's cash…
a report of deposits, withdrawals, and bank balances sent to…
an endorsement that consists only of the endorser's signature…
Automated teller machine (ATM)
electronic machine from which cash deposits and withdrawals c…
Bank reconciliation
bringing into agreement a bank statement with a party's cash…
12 terms
Computerized Accounting 1 - Unit 3 (Arkansas)
Automated teller machine (ATM)
Bank reconciliation
Bank statement
Blank endorsement
electronic machine from which cash deposits and withdrawals c…
bringing into agreement a bank statement with a party's cash…
a report of deposits, withdrawals, and bank balances sent to…
an endorsement that consists only of the endorser's signature…
Automated teller machine (ATM)
electronic machine from which cash deposits and withdrawals c…
Bank reconciliation
bringing into agreement a bank statement with a party's cash…
44 terms
Arkansas Accounting I Unit 2
Account
Account balance
Account number
Account title
a record summarizing all the information pertaining to a sing…
the amount in an account
the number assigned to an account
the name given to an account
Account
a record summarizing all the information pertaining to a sing…
Account balance
the amount in an account
12 terms
Computerized Accounting 1 - Unit 3 (Arkansas)
Automated teller machine (ATM)
Bank reconciliation
Bank statement
Blank endorsement
electronic machine from which cash deposits and withdrawals c…
bringing into agreement a bank statement with a party's cash…
a report of deposits, withdrawals, and bank balances sent to…
an endorsement that consists only of the endorser's signature…
Automated teller machine (ATM)
electronic machine from which cash deposits and withdrawals c…
Bank reconciliation
bringing into agreement a bank statement with a party's cash…
18 terms
Computerized Accounting 1 - Unit 5 (Arkansas)
941
Employee earnings record
Employer's payroll taxes
Federal unemployment tax
employer's quarterly federal tax return
business form used to record details affecting payments made…
taxes owed to the government by the employer based on payroll
tax paid by employers to provide funds for workers who are te…
941
employer's quarterly federal tax return
Employee earnings record
business form used to record details affecting payments made…
18 terms
Arkansas Accounting I Unit 5
941
Employee earnings record
Employer's payroll taxes
Federal unemployment tax
employer's quarterly federal tax return
business form used to record details affecting payments made…
taxes owed to the government by the employer based on payroll
tax paid by employers to provide funds for workers who are te…
941
employer's quarterly federal tax return
Employee earnings record
business form used to record details affecting payments made…
Computerized Accounting 1 - Unit 2 (Arkansas)
Account
Account balance
Account number
Account title
a record summarizing all the information pertaining to a sing…
the amount in an account
the number assigned to an account
the name given to an account
Account
a record summarizing all the information pertaining to a sing…
Account balance
the amount in an account
17 terms
Accounting Chapter 15 - Arkansas
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…
44 terms
Arkansas Accounting I Unit 2
Account
Account balance
Account number
Account title
a record summarizing all the information pertaining to a sing…
the amount in an account
the number assigned to an account
the name given to an account
Account
a record summarizing all the information pertaining to a sing…
Account balance
the amount in an account
11 terms
Arkansas Accounting I - Accounting Concepts
Historical cost concept
Accounting period cycle concept
Adequate disclosure concept
Business entity concept
the actual amount paid for merchandise or other items bought…
changes in financial information are reported for a specific…
financial statements that contain all information necessary t…
financial information is recorded and reported separately fro…
Historical cost concept
the actual amount paid for merchandise or other items bought…
Accounting period cycle concept
changes in financial information are reported for a specific…
82 terms
Arkansas Accounting Unit 1, 2, & 3
Accountant
Accounting
Accounting concepts
Accounting period cycle
a person who plans, summarizes, analyzes, and interprets acco…
planning, recording, analyzing, and interpreting financial in…
commonly accepted concepts that guide accounting personnel in…
changes in financial information are reported for a specific…
Accountant
a person who plans, summarizes, analyzes, and interprets acco…
Accounting
planning, recording, analyzing, and interpreting financial in…
12 terms
Computerized Accounting 1 - Unit 3 (Arkansas)
Automated teller machine (ATM)
Bank reconciliation
Bank statement
Blank endorsement
electronic machine from which cash deposits and withdrawals c…
bringing into agreement a bank statement with a party's cash…
a report of deposits, withdrawals, and bank balances sent to…
an endorsement that consists only of the endorser's signature…
Automated teller machine (ATM)
electronic machine from which cash deposits and withdrawals c…
Bank reconciliation
bringing into agreement a bank statement with a party's cash…
12 terms
Computerized Accounting 1 - Unit 3 (Arkansas)
Automated teller machine (ATM)
Bank reconciliation
Bank statement
Blank endorsement
electronic machine from which cash deposits and withdrawals c…
bringing into agreement a bank statement with a party's cash…
a report of deposits, withdrawals, and bank balances sent to…
an endorsement that consists only of the endorser's signature…
Automated teller machine (ATM)
electronic machine from which cash deposits and withdrawals c…
Bank reconciliation
bringing into agreement a bank statement with a party's cash…
18 terms
Computerized Accounting 1 - Unit 5 (Arkansas)
941
Employee earnings record
Employer's payroll taxes
Federal unemployment tax
employer's quarterly federal tax return
business form used to record details affecting payments made…
taxes owed to the government by the employer based on payroll
tax paid by employers to provide funds for workers who are te…
941
employer's quarterly federal tax return
Employee earnings record
business form used to record details affecting payments made…
18 terms
Computerized Accounting 1 - Unit 5 (Arkansas)
941
Employee earnings record
Employer's payroll taxes
Federal unemployment tax
employer's quarterly federal tax return
business form used to record details affecting payments made…
taxes owed to the government by the employer based on payroll
tax paid by employers to provide funds for workers who are te…
941
employer's quarterly federal tax return
Employee earnings record
business form used to record details affecting payments made…
Accounting 2 Test #1 (University of Arkansas)
Direct costs
Indirect costs
Manufacturing overhead
Product costs
Easily traceable (ex. direct material)
uneasy to trace (ex. manufacturing overhead)
costs that cant be easily traced to specific units (ex. indir…
includes direct materials, direct labor, and MOH. Assigned to…
Direct costs
Easily traceable (ex. direct material)
Indirect costs
uneasy to trace (ex. manufacturing overhead)
12 terms
Computerized Accounting 1 - Unit 3 (Arkansas)
Automated teller machine (ATM)
Bank reconciliation
Bank statement
Blank endorsement
electronic machine from which cash deposits and withdrawals c…
bringing into agreement a bank statement with a party's cash…
a report of deposits, withdrawals, and bank balances sent to…
an endorsement that consists only of the endorser's signature…
Automated teller machine (ATM)
electronic machine from which cash deposits and withdrawals c…
Bank reconciliation
bringing into agreement a bank statement with a party's cash…
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