Across
- 1. the face value of a promissory note which interest is computed.
- 4. A business owned by one person.
- 6. the signature of the payee or other holder placed on the back of a check or other negotionable paper.
- 8. property of a relatively permanent nature used in the operation of a business and not intended for resale.
- 9. the amount added to the cost of an article to determine the selling price of that article.
- 14. a secured loan on a parcel or real estate.
- 15. a cash discount for a credit transaction. if the invoice is paid to the supplier within 30 days, there is a 10% discount. otherwise the full amount is due as of the 31st day.
- 16. an inflow of assets as a result of selling a product or providing a service.
- 17. A federal tax form on which the employee indicates his/her tax situation to the employer. *HINT- New employee fills this out when starting at a new job.
- 19. currency and coins. Also can be expanded to include checks, drafts, and money orders.
- 21. the difference between net sales and the cost of goods sold.
- 25. A type of asset that will be consumed as it is used.
- 28. the party to whom any negotiable instrument is made payable.
- 29. wear and tear of a durable asset
- 31. a person in possession of an instrument
- 32. the value that occurs most frequently in a group of numbers.
- 33. unwritten promises of a business to pay creditors.
- 37. a paper showing quantity, description, prices of items, total amount of purchase and sales terms.
- 39. Abbreviation is Dr; always on the left side of a standard account.
- 41. the contract existing between the consignor and the carrier.
- 42. the annual percentage rate used to compute interest.
- 43. the number of times the average inventory has been sold or used up during a period.
- 46. the income of a business is less than expenses.
- 47. the things one owns
- 48. a value in an ordered set of values which represent the midpoint.
- 52. the party who hires employees to do certain work.
- 54. Abbreviation is Cr; right side of a standard account.
- 58. someone who gets paid to work for a person or company and is under direct control of the company. An employee who makes over $600 in a year is required to receive a W2 at the end of the year.
- 59. a check that has been issued but not presented to the bank for payment.
- 60. a payment
- 62. a person to whom a debt is owed.
- 63. operating expenses.
- 64. unwritten promises by customers to the business to pay at a later date.
- 65. An IRS tax form used in the U.S. to report wages paid to employees and the taxes withheld from them. Employers must complete this form for each employee to whom they pay a salary, a wage, or other compensation as part of the employment relationship *HINT- Tax return
Down
- 2. one to whom goods are shipped to by common carrier.
- 3. the transfer of title of goods from the seller to the buyer for a price.
- 5. the difference between total sales and sales returns and allowances.
- 7. the return of a portion of a payment.
- 10. a person who signs a check or draft ordering payment to be made *HINT- person who writes check
- 11. A tax form in the U.S. that is prepared and filed to report payments to independent contractors.
- 12. the debts one owes.
- 13. any consecutive 12 month period.
- 18. a reduction of price for payment within a time limit.
- 19. a business, owned by stockholders, which is chartered under state law to conduct a business.
- 20. generally compensation for managerial or administrative staff.
- 22. State Unemployment Tax Act
- 23. a person or company who will receive payment on a promissory note, check, draft or money order.
- 24. non sufficient funds
- 26. the merchandise that a business keeps or has for sale.
- 27. used for computing interest, is based on the assumption that there are 360 days in a year.
- 28. the state or right of owning a business or holding property.
- 30. goods purchased for resale at a profit.
- 34. refers to social security.
- 35. a person or concern, usually a bank, that has been ordered to make a payment on a check or draft. *HINT-entity ordered to make the payment based on written check.
- 36. a business owned by two or more individuals with profits or losses jointly shared.
- 38. a relationship of trust and confidence.
- 40. Assets that have a physical form.
- 44. another word for income.
- 45. one who contracts to perform certain tasks for a set fee, but who is independent of the control of the contracting party as a means by which the contract is executed, except for specifications established in the contract. This type of worker receives a 1099 rather than a W2 at the end of the year.
- 49. the amount of pay after deductions have been subtracted.
- 50. the person or business concern by whom a shipment is made by common carrier.
- 51. assets = liabilities + owner's equity
- 53. the difference between cost of goods sold and the selling price.
- 55. The number of times sales in a given price bracket occur over a fixed period of time.
- 56. the person or company whose name is written on the back of a check.
- 57. an asset that is not physical in nature, i.e. your integrity.
- 61. a reduction of selling price below the original selling price.