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