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The owner's capital account in the last two columns of the work sheet is an up-to-date
account and includes net income and withdrawals of the current period.
FICA taxes include amounts for both Social Security and Medicare programs.
A(n) ____________________ contains a listing of all items being deposited.
In the two-column general journal page below, each capital letter represents a part of a
journal entry. Write the proper letter next to the item in the list below to identify the
proper part of the journal entry.
Journalize Fred Buchanan's July transactions using the combination journal provided.
Prove the journal. Fred uses the modified cash basis for his accounting records.
The chart of accounts includes the account titles in numerical order.
Purchase invoices received from suppliers provide information about cash payments.
Expenses that are incurred in operating the enterprise increase owner's equity.
A mortgage on an office building is an example of a property, plant, and equipment
asset.
On a deposit ticket, checks should be listed in numerical order.
