Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

2. Transaction Analysis

Journal Entries: Debits and Credits

Financial Accounting

2. Transaction Analysis

Journal Entries: Debits and Credits

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Multiple Choice

Each employee name is listed in a payroll register along with which of the following?

The employer's bank account number

Gross earnings, deductions, and net pay

Only the employee's address

The company's total payroll expense

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Verified step by step guidance

Understand the purpose of a payroll register: A payroll register is a document that summarizes payroll information for each employee, including their earnings, deductions, and net pay.

Identify the key components typically included in a payroll register: These components are gross earnings (total earnings before deductions), deductions (such as taxes, benefits, etc.), and net pay (the amount the employee receives after deductions).

Clarify why the employer's bank account number is not included: The payroll register is focused on employee-specific payroll details, not the employer's banking information.

Explain why the employee's address is not the primary focus: While an employee's address may be recorded elsewhere for administrative purposes, it is not a standard component of the payroll register.

Highlight why the company's total payroll expense is not listed: The payroll register is designed to provide detailed information for individual employees, not aggregate data for the company as a whole.