As a general rule, neither the state nor the federal government is represented in most civil cases

For each transaction, identify which account is debited and which account is credited. Use proper account titles

Transaction Debit Credit Received a bill for utilities to be paid next month Performed services on account Paid cash for a 12-month insurance policy, coverage starting next month Paid rent for the current month Borrowed cash from the bank for business use; a note was signed What will be an ideal response

Davis, a sole proprietor with no employees, has a Keogh profit-sharing plan to which he may contribute 15% of his annual earned income. For this purpose, "earned income" is defined as net self-employment earnings reduced by the

a) Deductible Keogh contribution. b) Self-employment tax and the employer's portion of the deductible Keogh contribution. c) Self-employment tax. d) Deductible Keogh contribution and the employer's portion of self-employment tax.