Study_exam1 - Accounting 200 Review - Exam 1 Chapter 1&...

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Accounting 200 Review - Exam 1 Forms of Business Organizations Proprietorship, Partnership, and Corporation Types of Business Activities Investing, Financing and Operating Income Statement Statement of Retained Earnings or Stockholders’ Equity Classified Balance Sheet The accounting process Objectives of Financial Reporting (useful and its friends—relevant/reliable) Chapter 3 Asset = Liabilities + Stockholder’s Equity (Balance Sheet equation) Debits / Credits (know rules and effects on each type of account) Normal Balances for all types of accounts Analyze Transactions Preparing journal entries Using T-accounts Trial Balance Chapter 4 Matching Principle and Revenue Recognition Cash basis versus Accrual basis accounting Adjusting journal entries: Prepaid (including depreciation) and Accruals Effect on accounting equation and financial statements Adjusted Trial Balance
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Study_exam1 - Accounting 200 Review - Exam 1 Chapter 1&...

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