Financial Statements, Taxes, and Cash Flow
Know the difference between book value and market
Know marginal and average tax rate concepts
Understand the major characteristics
of the Balance Sheet and Income Statement
Know the differen
Service Company-Revenues-Expenses=Net income
Merchandiser-Net sales-COGS=gross profit-Expenses=Net income
OP. Cycle for Merchandiser-Purchases, Merchandise Inventory, Credit Sales ,Acct. recievable, Cash collection
Perpetual inventory system-continually u
Par value- Most bond issues have a par value of $1,000 per bond. Common and preferred stock may also have assigned par values.
Maturity Date-The date on which the bond is retired and the principal (par value) is repaid to the lender.
Indenture-A legal con