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Unformatted text preview: , - ~ ~ ~ - - ~ ~ ~ ~ ~ ~ - ~ - - - - - - - - - - - - - ~ - - ~ - ~ -~ ~ - - - ~ - - - - - - - - -ICHAPTER2ReportingInvestingand FinancingResults on the BaJance SheetWhat is the primaryobjectiveof financialreporting?s-To provideuseful economicinformationtoexternalparties for decisionmakingand forassessingfuture cash flowsElementsof BalanceSheetAssets:Probablefutureeconomicbenefitsownedby the entityfrom pasttransactionsLiabilities:Debtsor obligationsfrompast\)Y\teVt\:transactionsto be paid withassetsorr.." < H ....,services.Stockholders'Equity:Financingprovidedbyownersand operations.\ , ~ ICloop_"Ciulp,lIRelationships of3 Basic EquationsAL+SEC(\REEndREBeg RE+NI . DivNIREChart of Accounts,.Listingof all accountnamesand correspondingaccountnumbersusedIn an accountmgsystem1I11'KJC'_~lI:IQO,.""""",,R'",""filolo131QO 1"'-<1,"' '141(J(lSuppi'"15300Ptcpo'dJ"'","o' '111~KI1.3,><1j'IIK IIl" ild i,,~ ,lj~~ih:~~t1~1~)~~~:::~::~~~~~:::i::::~~~~~~"i~tl:5~~~:'~_:~~<l:J<~\:ti,:;,,\'-hi<'"](l200...
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KIC000069 - , - ~ ~ ~ - - ~ ~ ~ ~ ~ ~ - ~ - - - - - - - - -...

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