IRS is an acronym for the ___________________________________.

UMMS Funeral Home has assets of $747,000 and the owner’s equity is $390,000. What are the liabilities?

All of the following amounts appear on the statement of owner’s equity except:

UMMS Funeral Home receives a check from a client family to pay off a funeral from last month. We want to ensure it can only be deposited into our bank so we include “Pay to the Order of UMMS Funeral Home” and “For Deposit Only.” This type of endorsement is called a ______________________.

Accumulated Depreciation – Equipment is a(n): 

UMMS Funeral Home had revenues of $34,000 and expenses of $13,600. How does this affect owner’s equity?

True or False: Depreciation is calculated for short-term assets only.

An error in which the digits of a number are switched – for example, 489 is recorded as 849 – is an example of a:

UMMS Funeral Home purchased new equipment for $10,500 from Bill’s Computer World, Inc., to be paid in 30 days. Which of the following is correct?

What affect do withdrawals have on the basic accounting equation?