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8 Cards in this Set

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  • Back
WHAT IS INCLUDED IN THE REVENUE PORTION OF THE INCOME STATEMENT?
SERVICE REVENUE
WHAT ARE EXAMPLES OF SUBTITILES USED IN THE EXPENSE PORTION OF THE INCOME STATEMENT?
SALARIES EXPENSE
SUPPLIES EXPENSE
RENT EXPENSE
INSURANCE EXPENSE
INTEREST EXPENSE AND BASICALLY ANY OTHER EXPENSE
HOW DO YOU CALCULATE NET INCOME ?
REVENUE - EXPENSES= NET INCOME
HOW DO YOU CALCULATE ENDING RETAINED EARNINGS?
BEGINING RETAINED EARNINGS
+ NET INCOME
- DIVIDENDS
HOW DO YOU CALCULATE STKH EQUITY?
CAPITAL STOCK
+ RETAINED EARNINGS
WHAT ARE THE MAYOR SECTIONS IN THE BALANCE SHEET?
ASSEST AND LIABILITIES
WHAT IS THE DIFFERENCE BETWEEN A CURRENT ASSET AND A LONG TERM ASSET?
A CURRENT ASSET IS AN ASSET THAT WILL BE USED UP IN LESS THAN A YEAR FROM THE DATE ON THE BALANCE SHEET
WHERE IS ACCUMULATED DEPRECIATION REPORTED ON THE BALANCE SHEET?
PROPERTY, PLANT AND EQUIPMENT.
LESS: ACCUMULATED DEPRECIATION