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15 Cards in this Set

  • Front
  • Back
operating activities
day to day events involved in running a business
investing activities
buying and selling long-lived items
financing activities
related to teh exchanging money with lenders or owners
the process of capturing and reporting the results of a business operating, investing, and finacing activities
types of financial statments
balance sheet, income statement, statement of retained earnings
balance sheet
purpose is to report at one time what a business owns and owes and what is leftover for owners
standardized records that summerize the dollar effects of business activities
how are assets listed on the balance sheet
in the order of how quickly they are used up, converted to cash - order of liquidity
contributed capital
reports the amount of cash injected into the business by stockholder's who bought stock
retained earnings
represents the company's total earnings(loses) less all dividends paid to stockholders
net income
revenues - expenses
increases in company's recevivables (operating activity)
decreases in companys receviables
statement of retained earnings
shows the amount of earnings that have been retained in the business and the amount of the company's recievables paid out to stockholders as dividends
statement of cash flow
summarizes how a business's operating, investing, and financing activities caused its cash balance to change over a peroid of time