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What are some examples of cash flows from an operating activity?
Income Statement, Net Income, Cash, Sales Revenue, Utilities Expense, Accounts Recieveable, Accounts Payable
What are some examples of cash flows from an investing activity?
Building, Land, and Equipment
What are some examples of cash flows from a financing activity?
Borrow Money, Sell Stock, Repay Debt
In preparing a statement of cash flows under the indirect method how is an increase to accounts recieveable reported and how is an increase to accounts payable recorded?
Debit Accounts Recieveable Credit Revenue and Decrease Accounts Recieveable, Debit Expense Credit Accounts Payable and Add Accounts Payable
When Treasury Stock is purchased, what is the effect on assets and stockholders' equity?
It decreases both.
What does the matching principal state?
It states that an expense must be recorded in the same accounting period.
What does Retained Earnings represent?
The earnings retained in the corporation - earnings not paid out as dividends in stockholders.
Authorized stock is...
Shares available to sell (issued and unissued)
Issued stock is...
Shares actually sold (includes treasury stock)
Outstanding stock is...
Shares held by investors (excludes treasury stock)
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