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Recordkeep Final6/13

The bookkeeping system in which each entry is made separately is called? Single entry
A check dated in the future is called? Post dated
What a business is worth is called? Owners equity
A Banks own check drawn upon itself and signed by a bank cashier is called? cashiers check
A record of earning and deductions for a year is called? W2
The bookkeeping system that generates all the necessary financial records for each transaction with one writing is called? Peg board system
Signature on the back of a check indicating that all rights are transferred to another party is? endorsement
This form authorizes employers to deduct taxes and indicating that number of exemption or deductions? W4
The person who signs the check is called? Payer, maker or drawer
Properties owned by a business? Assets
Used to take care if minor expenditures? Petty cash
Form that is a summary of a W2 from an employer? W3
Used by those without a checking account is? Money order
Form that reports income taxes withheld from wages, tips, etc, and filed quarterly with the IRS? 941
The type of endorsement that is signed with Pay to the Order of special endorsement
For deposit only is what kind of endorsement? Restrictive
This tells the financial position of a business on a given date balance sheet
A record that includes the debit and credit transactions of all financial accounts general ledger
Total of all patients outstanding balances owed to the practice accounts recievable
Taxes subject to change by the SSA are? FICA
What system does FICA taxes finance? SSA
What taxes must be deposited in an authorized financial institution by the employer? FICA
What is filed on form 941? Quarterly tax report
Patients bill or statement Ledger
A discount or refund applied to an account adjustment
Charge made to an account debit
Preprinted form with basic office charges listed and space for patients current charges super bill
Systematic recording of the transactions of a business record keeping/ bookkeeping
Debts of a business Liabilities
Payment received on an account credit
Check register is also called disbursement journal
Type of endorsement signed by the person to whom the check is made out to is blank endorsement
Person to whom the check is written payee
Check made out to you patient by a party unknown to you, who the signs the check over to the office Third party check
Federal unemployment taxes are paid by who? The employer
Created by: lecopple1