Chapter 14 & 15 Term Review

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Across
  1. 2. opposite account of prepaid insurance
  2. 6. opposite account of interest receivable
  3. 7. the tax rate associated with a tax bracket
  4. 10. cash and other assets expected to be exchanged for cash within a year
  5. 11. accounts that cant be collected
  6. 13. the amount that will be received for an asset at the time of disposal
  7. 15. the period of time over which an asset contributes to the earnings of a business
  8. 16. recording an equal amount of depreciation expense for a plant asset in each year for its useful life
  9. 17. the original cost of a plant asset minus accumulated depreciation
  10. 19. each tax rate and taxable income amount on one line of a tax table
  11. 21. physical assets that will be used for a number of years in the use of a business
  12. 23. a promissory note signed by a business and given to a creditor
  13. 24. a promissory note that a business accepts from a customer
  14. 25. the percent of the principle that is due for the use of funds borrowed
Down
  1. 1. revenue earned in one fiscal period but not received until a later fiscal period
  2. 3. a trial balance prepared after adjusting entries are posted
  3. 4. the amount of inventory on hand at the beginning of a fiscal period
  4. 5. actual count of merchandise at end of fiscal period
  5. 8. total amount of depreciation recorded the purchase of plant asset
  6. 9. opposite account of income summary
  7. 12. a trial balance prepared before adjusted entries
  8. 14. interest earned but not yet received
  9. 18. the amount of accounts receivable a business expects to collect
  10. 20. the person or business to whom the amount of a note is payable
  11. 22. a loss in usefulness of a plant asset as a result of wear