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20 Cards in this Set
- Front
- Back
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Assets?
Eq? |
Current:
Cash Accounts Recievable Inventory Supplies Long Team: Property Plant Equipment Intangibles Depreciation Assets= Liabilities + Equity |
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Liabilities
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Current:
Accounts Payable Short Term Notes Payable Salaries Payable Income Tax Payable Utilities Payable Unearned Revenue Long Term: Long Term Notes Payable Mortgage Payable |
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Equity eq?
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Contributed Capital Stock + Retained Earnings= Equity
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Retained Earnings eq?
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Beginning Retained Earnings + Net Income - Dividends = Retained Earnings
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Revenues
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Anything with revenue after it practically
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Expenses
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Cost of Goods Sold
Anything with expense after it |
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Net Income eq?
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Net Income=Revenues - Expenses
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Contributed Capital eq?
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Beginning Balance(Jan 1) + Additional Stock Sales= Ending Contributed Capital
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Gross Profit eq?
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Gross Profit = Sales Revenue - Cost of Goods Sold
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Earnings Per Share eq?
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EPS= Net Income / #of outstanding shares
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Return on Equity eq?
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ROE= Net Income/ Average Equity
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Return on Investment eq1 eq2?
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ROI= Net Income/ Average Assets
ROI= Margin x Turnover |
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Margin def?
eq? |
Profitability on sales
Margin= Net Income/ Sales |
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Turnover def?
eq? |
utilization of assets to generate sales revenue
= Sales Revenue / Average Total Assets |
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Working Capital eq?
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Current Assets - Current Liabilities
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Current Ratio eq?
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Current Assets / Current Liabilities
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Acid Test (Quick Ratio)
eq? |
[ Cash + Accounts Receivable] / Current Liabilities
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Interest eq?
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Principle x Rate x Time (?/12)
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Accrued def?
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Cash has not yet been paid or received, but revenue or expense has been incurred/ earned
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Deferral def?
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Cash is paid or received, related revenue or expense has not been recorded.
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