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12 Cards in this Set

  • Front
  • Back
decrease in values of asset.
Cash does not depreciate.
Estimated Life
estimated amount of life in asset.
Salvage Value
amount you would like to get for asset when you trade it in.
Book value
present value of your asset.
(computer equipment から accumulated dep. を引く)
current ratio
can i pay all my current liabilities at this time?

current ratio= current assets/current liabilities
current assets
cash+assets that can easily be turned to cash.
plant assets
assets which depreciate.
contra accounts
account linked with another account and having an opposite normal balance;reported as a subtraction from the other account's balanc
Accumulated Dep.-Equipment
Journal entry at the end of accounting period to being an asset or liability account to its proper amount and update the related expense or revenue account.
Net Income
Amount earned after subtracting all expenses necessary for and matched with sales for a period;also called income, profit, or earnings.
revenues exceed expenses
Net loss
Excess of expences over revenues for a period.
assets an owner takes from the company for personal use.