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EXAM 1
Chapters 1-3
4
Accounting
Undergraduate 1
02/02/2011
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Term

Accounting equation

 

 Definition
assets = liabilities + Stockholders equity
Term
stockholders equity
 Definition
the mathmatical differance between a corporations asets and liabilities, i.e. the amount of intrest or claim the stockholders have on the asstes of a business
Term
retained earnings
 Definition
represents the owners claims to the companys assets that result from it's earnings that have not been paid out in dividends
Term
balance sheet
 Definition
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