| A | B |
|---|
| federal unemployment tax | a federal tax used for state and federal administrative expenses of the unemployment program |
| state unemployment tax | a state tax used to pay benefits to unemployed workers |
| inventory | the amount of goods on hand |
| merchandise inventory | the amount of goods on hand for sale to customers |
| cost of merchandise sold | the total original price of all merchandise sold during a fiscal period |
| gross profit on sales | the revenue remaining after cost of merchandise sold has been deducted |
| distribution of net income statement | a partnership financial statement showing net income or loss distribution to partners |
| owners' equity statement | a financial statement that summarizes the changes in owners' equity during a fiscal period |
| supporting schedule | a report prepared to give details about an item on a principal financial statement |
