Net Income
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Income from Operations +||- results of activities not related to operating
Income Summary
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A temporary account used for closing revenue and expense accounts
Quality of Earnings
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Indicates the level of full and transparent information that a company
provides to users of its financial statements
Permanent Accounts (real accounts)
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Balance sheet accounts that are transferred to the next accounting period
(all asset accounts, liability accounts, and stockholder equity accounts)
Prepaid Expenses
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Asset! Not Expense!!!
FOB shipping point
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Buyer pays shipping
FOB destination
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Income from Operations +||- results of activities not related to operating
Income Summary
Give this one a try later!
A temporary account used for closing revenue and expense accounts
Quality of Earnings
, Give this one a try later!
Indicates the level of full and transparent information that a company
provides to users of its financial statements
Permanent Accounts (real accounts)
Give this one a try later!
Balance sheet accounts that are transferred to the next accounting period
(all asset accounts, liability accounts, and stockholder equity accounts)
Prepaid Expenses
Give this one a try later!
Asset! Not Expense!!!
FOB shipping point
Give this one a try later!
Buyer pays shipping
FOB destination
