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Unformatted text preview: p.31 Book value asset liabilities = book value of the business p.32 Income statement is a period of time jan july 30,2011 which includes revenues, expenses, gains, losses, net income/netloss p.35 Gross margin or gross profit Retained earnings Debit (-) Credit (+) p.36 Cash flow statement is organized in 3 sections 1. Cash from operation activities (day to day operation) 2. Cash from financing activities equity financing (stock)-Debit financing (bonds) 3. Cash from investing activities p.41 Notes to the financial statement are more important than the number itself p.44 Internal auditor hired by the company, internal employee, and working directly for the company External auditor outside company, certified company that work for the public, improve the quality of the company for the public...
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This note was uploaded on 09/28/2011 for the course ACC 111 taught by Professor Caprio during the Summer '11 term at Mercer County Community College.
- Summer '11
- Balance Sheet