Final Journals & Terms Flashcards
What is the journal entry when someone buys a bond 3/31 from someone else?
Dr. Investments
Dr. Interest Receivables
Cr. cash
What is the journal entry when the bond acquired on 3/31 pays interest on 6/30?
Dr. cash
Cr. Interest receivables
Cr. Interest Revenue
NYSE
New York Stock Exchange
NASDAQ
National Association of Securities dealers automated quotations.
What is NASDAQ Ticker symbol?
QQQ
What is DOW jones ticker symbol and other name?
Ticker symbol- DIA
Name: Diamonds
what is Standard & Poor Ticker symbol and other name
Ticker symbol: SPY
Name: S&P 500
how many companies does the Dow owns
30
How many companies does NASDAQ owns
100
What is the journal entry when we buy shares of stock
Dr. Investments
cr. cash
What is the journal entry when we receive a dividend?
Dr. Cash
Cr. Dividend Revenue
what is the journal entry when we sell shares of stock?
Dr. cash
Cr. Investment
Cr. Gain (if there is)
what is the journal entry for fair value adjustment market to market
dr. Fair value adjustment
cr. Unrealized gain/loss ( if gain)
(Perpetual). What is the journal Entry when you purchase something on account.
Dr. Merch Inventory
Cr. A/P
Perpetual. What is the J.E for a return
Dr. A/P
Cr. Merch Inventory
Perpetual. what is the journal Entry for payment Discount?
Dr. A/P
Cr. Cash
Cr. merch Inv.
Perpetual. what is the J.E for selling Inventory.
Dr. A/r
Cr. Sales
Dr. COGS
Cr. Merch Inventory
Periodic. What is the journal entry for selling inventory
Dr. A/R
Cr. Sales
Periodic. what is the j.e for Payment with discount
Dr. A/P
Cr. Cash
cr. Purch. Discount
Periodic. what is J.E for return
Dr. A/P
Cr. Purchases R & A
Periodic. What is the J.E for purchases on account.
Dr. Purchases
Cr. A/P
what is the j.e for warranty liability?
Dr. Warranty Exp.
cr. Cash
what is the J.E for acquiring the remaining warranty liability?
Dr. warranty Expense
Cr. Est. warranty liability.
what is the journal entry for when repairs are made? ( Warranties)
Dr. Estimated Warranty Liability
cr. cash
what is the j.e when we sell merchandise and collect sales tax?
Dr. Cash
Cr. Sales
Cr. sales tax pay
J.E when paying for sales tax payable
Dr. Sales tax payable
Cr. Cash
what are the tax percentage of the following:
Federal tax
State tax
Social tax
Medicare
State unemployment
Federal unemployment
SDI
15%
2%
6.2%
1.45%
5.4%
0.6%
0.9%
journal entry for salaries
Salaries Expense
Different taxes
what are the year-end journal entries for periodic?
Dr. Income summary ( beg. #)
Cr. merch Inv. (beg #)
Dr. Merch Inventory (End#)
Cr. Income summary (end#)
Year end journal entry for perpetual?
Dr. COGS
Cr. Merch Inv.
