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Unformatted text preview: • Know what accounts go on which statements e.g. expenses on the income statement, dividends on the statement of retained earnings • Adjusting entries o Interest Expense o Unearned Revenue o Prepaid Expenses o Supplies Expense o Wage Expense • Closing Entries • Sales transactions w/ credit terms and subsequent cash collection • Bank Reconciliation • Bad Debt o Both methods to calculate bad debt expense o Write off entry o NRV • Depreciation o Both methods to calculate depreciation expense o Book Value What your fearless leader thinks you should know for the final exam • Perpetual and periodic COGS • Inventory cost methods o LIFO o FIFO o Average Cost o Concepts of impact on net income • Disposal of assets w/ a gain and a loss • Goodwill calculation • Basket Purchase cost allocation...
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- Spring '08
- Balance Sheet, Generally Accepted Accounting Principles, backwards Journal, Expense Closing Entries, Issue stock w/