Accounting Final Review

Accounting Final Review - Accounting Final Review 1....

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Accounting Final Review 1. Balance Sheet, Income Statement, Cash Flow, Stockholder’s Equity Object Financial Statement Line item Inventory Balance sheet Current assets Company pays cash div Cash flow Financing activities Buying office supplies Income statement Supplies expense A/P Balance sheet Current liabilities A/R Balance sheet Current assets Advertising expense Income statement Advertising expense Buying a building Balance sheet LT assets - PPE Cash Balance sheet Current assets Depreciation – buildings Income statement Depreciation expense Accum dep- buildings Balance sheet LT assets – accum dep Capital stock Balance sheet Stockholders equity Commissions Income statement Expense COGS Income statement COGS (Sales–CGS = net inc) Buying couches Balance sheet Income taxes payable Balance sheet Current liabilities Income tax expense Income statement Expense Acquire land Balance sheet LT asset – PPE Signing a note payable Balance sheet LT liability Rent Income statement Expense Prepaid rent Balance sheet Current asset Retained earnings
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Accounting Final Review - Accounting Final Review 1....

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