pre class balance sheet

Liabili2es owners equity 21 annas taqueria example 7

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Unformatted text preview: ies ofen won’t make the above dis2nc2on and just lump everything into a category called “Long- Term Debt” •  Other long- term liabili2es: (e.g. Product Warran2es) 13 Owners’ Equity •  Contributed capital Ø། Funding from issuing (common stock, addi2onal paid- in capital) or re- acquiring shares (treasury stock) from shareholders •  Earned capital (Retained earnings) Ø། Net assets that have been generated by a company’s opera2ons since incep2on less dividends paid out; plug figure that maintains balance sheet’s balance Ø། Beginning RE + NI – Dividends=Ending RE 14 Let’s categorize! Categories: A. Current Asset B. Long- term assets C. Current Liabili2es D. Long- term liabili2es E. Contributed Capital F. Retained Earnings X. Not on BS 1.  Factory 12. Land 2.  Interest Reve...
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