Accounting Cheat Sheet Visit our website online at: http://www.AccountingCoach.com Learn more about AccountingCoach Pro: http://www.AccountingCoach.com/pro/ For personal use by the original purchaser only. Copyright © AccountingCoach®.com. Click a Category Below Financial Statements Balance Sheet Income Statement Cash Flow Statement Stockholders’ Equity Financial Ratios Accounting Principles Bookkeeping, Debits and Credits Accounting Equation Adjusting Entries Bank Reconciliation Petty
Words: 5433 - Pages: 22
matter what anyone tells me. That company is called Blackberry or as they are also know Research In Motion or RIM. This report will show the different aspects of the company from the auditors, stocks and assets to the liabilities, income statements, and cash flow statements. Both you and I will learn so much more about a company that has gone through turmoil and still came out strong!!! Auditors Information… Ernst & Young LLP is the world known accounting firm that has locations throughout the
Words: 2153 - Pages: 9
1. Consolidated income statement for the year ended 30 September 2005 Revenue (W1) Cost of sales (balancing figure) Gross profit (W2) Distribution costs (7,000 + 6,000 + (6,000 x 35% x 4/12)) Administrative expenses (8,000 + 7,000 + (7,200 x 35% x 4/12)) Operating profit Investment income (W3) Finance cost (W4) Profit before tax Income tax expense (7,000 + 1,800 + (3,600 x 35% x 4/12)) Profit for the period Attributable to Minority interest (4,200 x 20%) Alpha shareholders (balance) Net profit for
Words: 5147 - Pages: 21
machine is a very good deal; Oliver would have paid about $12,000 to buy it in the open market. Which of the following statements best describes the application of the historical cost concept? 5. Tournas Sports receives a special order for 100 team jerseys. The customer pays the full amount, $2,000, at the time of the order. The jerseys will be delivered in two weeks. Choose the statement that best reflects the application of the revenue recognition concept at the time of the order: 6. On April
Words: 13926 - Pages: 56
Accg100 Accounting 1A Lecture Notes Semester 2, 2012 1 Table of Contents Lecture Notes Week 1: Introduction to Accounting, Ethics, Business Entities, Financial Statements Week 2: Accounting for Transactions –Part 1 Week 3: Accounting for Transactions –Part 2 Week 4: Accounting for Adjustments- Part 1 Week 5: Accounting for Adjustments- Part 2 Week 6: Completion of Accounting Cycle Accounting Systems Revision Chapters 1 – 4 Week 8: Accounting for Retailers Week 9: Accounting for Inventories
Words: 17996 - Pages: 72
CHAPTER 5 Revenue Recognition after Delivery * Assumes we are able to make reasonable estimates of amounts due from customers that potentially might be uncollectible. * For product sales this also includes amounts not collectible due to customers returning the products they purchased. Installment Sales * Increasing the length of time allowed for payment usually increases the uncertainty about whether the store actually will collect a receivable * The increased uncertainty concerning
Words: 5638 - Pages: 23
distributions of cash to creditors and partners. Pr. 3–5 Luke, Mayo & Nomura LLP (20 minutes, easy) Given the statement of realization and liquidation for a limited liability partnership, prepare journal entries for the liquidation. Pr. 3–6 Luna, Nava & Ruby LLP (30 minutes, easy) Compute total loss from liquidation of a limited liability partnership, prepare a statement of realization and liquidation, and prepare journal entries for the liquidation. Pr. 3–7 Haye & Lee LLP (20 minutes
Words: 6976 - Pages: 28
evolution of the number system itself. It has been there in one form or the other, since the human beings started exchanging things. In ancient times the “kings” or “monarchs” used to maintain “treasury records”. They used to keep records of the incomes and expenses to the treasury. However, the real beginning can be traced to the reference to double entry system in the book published about 500 years ago. It was the great Italian Mathematician, Luca Pacioli, who authored the book and got it published
Words: 13188 - Pages: 53
FINANCIAL STATEMENTS ● the navigator ● ● ● ● ✓ Scan Study Objectives Read Feature Story Scan Preview Read Text and Answer Do it! p. 52 p. 53 p. 62 p. 68 Work Using the Decision Toolkit Review Summary of Study Objectives Work Comprehensive Do it! p. 72 Answer Self-Test Questions Complete Assignments Go to WileyPLUS for practice and tutorials Read A Look at IFRS p. 96 study objectives After studying this chapter, you should be able to: 1 Identify the sections of a classified balance sheet
Words: 24375 - Pages: 98
the organization, whereas financial accounting does not. Which of the following is a true statement regarding product and/ or period costs? Period costs never appear on the balance sheet. Product costs appear on the income statement but never on the balance sheet. Neither product nor period costs ever appear on the balance sheet. Neither product nor period costs ever appear on the income statement. Manufacturing overhead consists of: All manufacturing costs. Indirect materials, but not
Words: 2932 - Pages: 12
