week 6 Exercise Financial Statements

week 6 Exercise Financial Statements - companies revenues...

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Brittney Bryson April 12, 2011 XACC/280 Week 6  Exercise: Financial Statements After reviewing the specific reading I have learned that a balance sheet is step up so that a  company can see where there equity is. A balance sheet is a reflection of how the assets of the  business are in balance with the claims against the company. The balance sheets with all ways  equal out to the total Liabilities and stockholders Equity.  With an income statement if the 
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Unformatted text preview: companies revenues are less then the expenses then they would have a net loss in the company. This total is carried over to the Retained Earnings Statement. The amount paid from the Retained Earnings to the Stockholder is called dividends. A single step is when you record the revenues, expenses and net income in one step showing you the net income of the company....
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