Term
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Definition
#1
for a period of time
Revenue - Expenses = net income |
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Term
| Retained earnings Statement |
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Definition
begining retained earnings + net income - dividends = Ending retained earnings |
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Definition
#3 as of one date Assets = Liabilities + owners equity |
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Definition
#4 Period of time Operations investing financing |
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Term
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Definition
| Land, Buildings, vehicles, equipment, less depreciation |
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Term
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Definition
notes payable
bank loans payable
mortgages payable |
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Term
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Definition
| Current Assets - Current Liabilities |
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Term
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Definition
| Current Assets/ current liabilities |
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Term
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Definition
Notes Payable Accounts Payable Salaries payable Unearned Revenue Interest Payable |
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Term
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Definition
= Cash from Operations -Capital Expenditures - Cash Dividends |
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Term
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Definition
Revenues, sales, service, interest Inventory Accounts Receivable Expenses Accounts Payable |
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Definition
purchasing of those resources a compnay needs in order to operate. computers, delivery trucks, furniture and buildings. Assets. Property Plant and equipment- mixing equipment etc. |
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Term
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Definition
Borrowing money Issuing Stock in exchange for cash bank loan notes payable bonds payable |
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Term
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Definition
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Term
| liabilities normal balance |
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Definition
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Term
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Definition
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Term
| retained earnings normal bal |
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Definition
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Definition
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Definition
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Definition
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Term
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Definition
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Term
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Definition
debits increase
credit decrease |
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