For a not for profit entity, what financial statement would you request to view their assets and liabilities?

 

For a not for profit entity, assets = liabilities + __.

What does FICA refer to (check all that apply)?

Check all subgroups that sales analysis could be broken down into (check all that apply):

What is the amount that an employee actually receives before taxes and all withholdings on their check referred to as (check all that apply)?

_____ is permitted financing for a not for profit entity.

Which is example of payroll liabilities? (check all that apply)

Find and correct the error(s) in the following general journal entry which recorded a company’s payroll liability: DR Office Salaries Expense, $1,000; CR Social Security Tax Expense, $200. DR Health Insurance Premium Expense, $50. DR Cash, $750. (check all that apply)

In which type of account are payroll deductions recorded?

What type of account is a wage expense account?

How does the recording for bad debt expenses differ between the method required for GAAP versus the IRS requirement?