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NOCTI Accounting Review
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Avg score: 68% • Most missed: “To record a payroll debit and credit”
NOCTI Accounting Review
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25 Questions

1. The journal entry to record cash investment by the owner would be to debit Cash and credit

2. Taxes that are the employer's sole responsibility are considered to be a/an

3. A form that shows interest owed or received

4. Anytime you receive cash, you record it in the

5. The Capital Statement of Owner's Equity ending balance is found

6. Last in, first out

7. A is the source document for all cash payments

8. When posting at adjusting entries from page 8 of a general journal, the correct posting reference in the ledger accounts would be

9. The form that is given to you every year by your employer that tells you how much your wages were and taxes paid

10. Methods of estimating bad debits include aged accounts receivable, the total of uncollected accounts receivable, and taking a percentage of

11. Aid to the poor

12. Checks outstanding are

13. A is the source document for a bank service charge transaction

14. A direct deposit made to a employee's checking or savings account is also known as a/an

15. A purchase of merchandise with cash

16. Chief Executive Officer

17. The form you fill out when you get a job that gives the employer information to write your check

18. When the business owes money it is called

19. A promissory note is the source document for issuing a

20. The date to file income tax is

21. A group of accounts

22. Checks which are guaranteed by the issuing bank are

23. A is the source document for cash received from sales

24. Chief Financial Officer

25. The form you sign that allows you to write checks in a business is called a

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