acc- -220 - week 2 Financial Papers

acc- -220 - week 2 Financial Papers - Financial Papers The...

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Financial Papers The business world has various financial statements that are utilized in making all kinds of choices, which include the manufactured goods, or the service that should be provide be to the business in which they have the funds for hiring additional personnel. The financial statements that will am going to provide include a balance sheet, an income statement, a retained earnings statement, and a statement of cash flows. The balance sheet is an account of the businesses assets and liability. The assets are resource that any company possesses which includes computers, trucks, equipment, furniture, and buildings. The liability in which a business has is monies payable to creditors, which include suppliers, taxes, and the banks. A balance sheet utilizes the essentials of the accounting equation. The fundamental of the accounting equation says assets are to be identical to the amount of liabilities and stockholder’s equity (Kimmel, Weygandt, & Kieso, 2003). The stockholder’s
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This note was uploaded on 12/12/2011 for the course ACC 220 220 taught by Professor Aliciahubbard during the Winter '10 term at University of Phoenix.

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acc- -220 - week 2 Financial Papers - Financial Papers The...

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