1. 2 nd Midterm Exam EBD-301 Accounting & Finance for Entrepreneurs

2. Chapter 4: Preparing Trial Balance

3. Chapter 5: Payroll Accounting IRS requirements for businesses with employees Journal Accounts (4) Items subject to payroll withholding Importance of W-4 form Employer portion of Payroll Taxes Why Worker Compensation Insurance

4. Chapter 6: Taxation General Obligations of the employer Hobby or Business? Rules for Qualified Joint Venture Qualifications for S-Corporation –Taxation of S-Corporations –Importance of K-1 Form Defining Family Partnerships Limited Liability Companies: organization, taxation

5. Chapter 7: Business Organization Decision Criteria Principal Forms: extent of personal liability What does “piercing the corporate veil” mean?

6. Chapter 8: Time Value Compute PVIF, FVIF, PVIFA, FVIFA (formulas provided) Compute present and future value of single sums of money Compute loan payments, amortization schedule (at least first 3 payments) Compute future value of an investment plan; e.g. 401(k), IRA Compute annuity values; e.g. Insurance Annuity, annuitizing a retirement plan