Recordkeep Final6/13
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| The bookkeeping system in which each entry is made separately is called? | Single entry
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| A check dated in the future is called? | Post dated
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| What a business is worth is called? | Owners equity
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| A Banks own check drawn upon itself and signed by a bank cashier is called? | cashiers check
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| A record of earning and deductions for a year is called? | W2
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| The bookkeeping system that generates all the necessary financial records for each transaction with one writing is called? | Peg board system
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| Signature on the back of a check indicating that all rights are transferred to another party is? | endorsement
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| This form authorizes employers to deduct taxes and indicating that number of exemption or deductions? | W4
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| The person who signs the check is called? | Payer, maker or drawer
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| Properties owned by a business? | Assets
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| Used to take care if minor expenditures? | Petty cash
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| Form that is a summary of a W2 from an employer? | W3
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| Used by those without a checking account is? | Money order
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| Form that reports income taxes withheld from wages, tips, etc, and filed quarterly with the IRS? | 941
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| The type of endorsement that is signed with Pay to the Order of | special endorsement
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| For deposit only is what kind of endorsement? | Restrictive
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| This tells the financial position of a business on a given date | balance sheet
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| A record that includes the debit and credit transactions of all financial accounts | general ledger
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| Total of all patients outstanding balances owed to the practice | accounts recievable
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| Taxes subject to change by the SSA are? | FICA
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| What system does FICA taxes finance? | SSA
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| What taxes must be deposited in an authorized financial institution by the employer? | FICA
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| What is filed on form 941? | Quarterly tax report
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| Patients bill or statement | Ledger
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| A discount or refund applied to an account | adjustment
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| Charge made to an account | debit
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| Preprinted form with basic office charges listed and space for patients current charges | super bill
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| Systematic recording of the transactions of a business | record keeping/ bookkeeping
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| Debts of a business | Liabilities
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| Payment received on an account | credit
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| Check register is also called | disbursement journal
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| Type of endorsement signed by the person to whom the check is made out to is | blank endorsement
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| Person to whom the check is written | payee
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| Check made out to you patient by a party unknown to you, who the signs the check over to the office | Third party check
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| Federal unemployment taxes are paid by who? | The employer
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