Lesson 1: Accounting Equation
Slides in this set (5)
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- Assets = Liabilities + Owners Equity
- Assets = Tangible and Intangible properties that provide Value
- Liabilities = Debts that you owe that are either monetary or Services
- Owners Equity = The capital that has been put forth by investors/yourself to show the amount of Equity that has been built in the business.
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- Common Types of Assets
- Cash
- Accounts Receivables
- Property
- Uncommon Types
- Intangibles
- Goodwill
- Client Lists
- Data
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- Types of Liabilities
- Accounts Payable
- Unearned Revenue
- Notes Payable
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- Types of Owners Equity
- Capital
- Retained Earnings
- Dividends
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- Income Statement
- Shows the Income vs Expenses for the Year
- Balance Sheet
- Shows the Net Worth at a particular moment
- Statement of Cash Flow
- Shows the cash coming in and the cash going out.
- Statement of Owners Equity
- Shows the Change in Equity
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- Description
- Slide Set on Lesson 1: Accounting Equation, created by Sean Simons on 02/03/2019.
- Created by
- Sean Simons · Mar 2019
- Updated
- Mar 2, 2019
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