Flashcards
Financial Statements, Equations/Ratios_1
Cards in this deck (27)
- 1Net Income (NI) =(Rev + Gains) - (Exp. + Losses)
- 2What is on the Balance Sheet (BS)?Assets, Liabilities & SE
- 3What is on the Statement of Retained Earnings (RE)?Beg. RE
+ NI
- Dividends
Ending RE - 4What is on the Income Statement (IS)Rev.
- Cost & Expenses
= NI - 5Total Assets =Total Liabilities + Equity (SE)
- 6What is on the Statement of Cash Flows?Cash Flows from Operating, Investing & Financing Activities
- 7Inv. E =Purchases - COGS
- 8Re E =Re B + NI - Dividends
- 9Total OE =Contributed Capital (CC)
RE
Other Comprehensive Income (OCI) - 10Total Assets =Current + Noncurrent Assets
- 11Total Liabilities =Current + Noncurrent Liabilities
- 12Cutoff for a Liability to be considered Current1 year
- 13Contributed Capital (CC) =Common Stock (par value) + Addition Paid-In Capital
- 14Cash appears on which Statement AS:Balance Sheet
Asset - 15Accounts Payable (AP) on as:Balance Sheet (BS)
Liability - 16Buildings as:BS
Asset - 17AR as:BS
Asset - 18Commissions Earned as:Income Statement (IS)
Rev. - 19Common Stock (CS) as:BS
Owner's Equity (OE) - 20Dividends as:Statement of RE
- 21Insurance Expense as:Income Statement (IS)
Expense - 22Land as:BS
Asset - 23Note Payable as:BS
Liability - 24Rent Expense as:Income Statement (IS)
Expense - 25Retained Earnings *beg of period*Statement of RE
OE - 26Salaries ExpenseIncome Statement (IS)
Expense - 27Supplies as:BS
Asset
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- Accounting 101 Flashcards on Financial Statements, Equations/Ratios_1, created by smjackson7 on 06/02/2014.
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- smjackson7
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- Created by smjackson7 · Feb 6, 2014
- Copied by smjackson7 · Feb 6, 2014
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