An error in which the decimal point is misplaced – for example, when 274 is written as 2.74 – is an example of a:
The funeral home owner, Joe Smith, took $5,000 cash for pers…
The funeral home owner, Joe Smith, took $5,000 cash for personal use. What is the entry for this transaction?
UMMS Funeral Home purchased new equipment for $10,500 from C…
UMMS Funeral Home purchased new equipment for $10,500 from Computer Supplies, Inc., to be paid in 30 days. Which of the following is correct?
On January 1st, UMMS Funeral Home paid $54,000 for six month…
On January 1st, UMMS Funeral Home paid $54,000 for six months’ rent, January through June. What is the adjustment amount for rent expense at the end of January?
UMMS Funeral Home paid $975 for a casket. We have it listed…
UMMS Funeral Home paid $975 for a casket. We have it listed on our General Price List (GPL) for $1,975. The gross profit is _____________________.
Vertical analysis of the income statement expresses each ite…
Vertical analysis of the income statement expresses each item as a percentage of the ______________________ for the respective year.
UMMS Funeral Home forgets to pay their quarterly taxes. What…
UMMS Funeral Home forgets to pay their quarterly taxes. What is the penalty enforced by the state of Minnesota?
Purchases is a temporary account classified as a ___________…
Purchases is a temporary account classified as a _________________________ account.
An invoice that states “FOB Destination,” means the buyer is…
An invoice that states “FOB Destination,” means the buyer is responsible for and assumes all risk of the shipped items once ________________________.
UMMS Funeral Home receives an invoice with terms 2/10, n/30,…
UMMS Funeral Home receives an invoice with terms 2/10, n/30, which means _______________________________.