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15 Cards in this Set
- Front
- Back
interest payable
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= interest paid( payablr)
+ amortization of discount - amortization of premium |
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stocks - cash dividens
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cash goes down
common stock no effect RE goes down |
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stock - stock dividens
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cash no effect
CS goes up RE goes down |
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stock - stock split
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cash noeffect
CS no effect RE bo effect |
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cash flows from operating activities net income( add)
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-amortization and depreciation
-losses on disposals of assetts -decrease on current assets -increase on current liabilities |
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cash flows from operating activities net income ( deduct)
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-increase in current assets
-decrease in current liabilities -gains on disposable assets |
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activities from direct method
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cash receipts
( cash payments) |
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Principal characteristics of a partnership
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1 Association of individuals
2 Mutual agency 3 Limited life 4 Unlimited liability 5 Co-ownership of property |
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Issued Stock
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Number of shares of issued stock have been sold and been paid for
|
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Product costs are
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an integral part of producing the product
also called inventoriable costs do not become expenses until the product is sold |
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Period costs are
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identified with a specific time period rather than a product
selling and administrative expenses |
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Characteristics of a Corporation
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Separate legal existence
Limited liability of stockholders Transferable ownership rights Ability to acquire capital Continuous life Corporation management Government regulations Additional taxes |
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Authorized Stock
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Maximum amount of stock a corporation is allowed to sell as authorized by corporate charter
|
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treasury stock
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a corp owns stock thats been issued fully paid for and reaquired by the company
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financing activities
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inflow
from sale of common stock from issuance of bonds outlow dividens reaquiring stocks |