Basic Accounting Principles and Financial
Basic Accounting
Statement Components
Principles and
Study
Financial
Basic
Guide.pdf
Accounting
Statement Components
Principles and
Study
Financial
Guide.pdf
Statement Components Study Guide.pdf
Basic Accounting
Principles and
Financial
Statement
Components Study
Guide
Basic Accounting Principles and Financial
Basic Accounting
Statement Components
Principles and
Study
Financial
Basic
Guide.pdf
Accounting
Statement Components
Principles and
Study
Financial
Guide.pdf
Statement Components Study Guide.pdf
, Basic Accounting Principles and Financial Statement Components.pdf Basic Accounting Principles and Financial Statement Components.pdf Basic Accounting Principles and Financial Statement Components.pdf
Choose an answer
1 Revenue 2 Equity
3 Interest 4 Debt
Don't know?
Terms in this set (49)
Basic Accounting Equation Assets = Liabilities + Equity; must always balance
Assets Resources a business owns (cash, inventory, equipment); normal balance = debit
Liabilities Amounts a business owes (accounts payable, loans); normal balance = credit
Equity Owner's claim on assets after liabilities; normal balance = credit
Income Statement Shows revenues, expenses, and net income over a period
Net Income Revenue minus expenses
Statement of Owner's Equity Shows changes in owner's equity (investments, withdrawals, net income)
Balance Sheet Shows assets, liabilities, and equity at a specific point in time
Basic Accounting Principles and Financial Statement Components.pdf Basic Accounting Principles and Financial Statement Components.pdf Basic Accounting Principles and Financial Statement Components.pdf
Basic Accounting
Statement Components
Principles and
Study
Financial
Basic
Guide.pdf
Accounting
Statement Components
Principles and
Study
Financial
Guide.pdf
Statement Components Study Guide.pdf
Basic Accounting
Principles and
Financial
Statement
Components Study
Guide
Basic Accounting Principles and Financial
Basic Accounting
Statement Components
Principles and
Study
Financial
Basic
Guide.pdf
Accounting
Statement Components
Principles and
Study
Financial
Guide.pdf
Statement Components Study Guide.pdf
, Basic Accounting Principles and Financial Statement Components.pdf Basic Accounting Principles and Financial Statement Components.pdf Basic Accounting Principles and Financial Statement Components.pdf
Choose an answer
1 Revenue 2 Equity
3 Interest 4 Debt
Don't know?
Terms in this set (49)
Basic Accounting Equation Assets = Liabilities + Equity; must always balance
Assets Resources a business owns (cash, inventory, equipment); normal balance = debit
Liabilities Amounts a business owes (accounts payable, loans); normal balance = credit
Equity Owner's claim on assets after liabilities; normal balance = credit
Income Statement Shows revenues, expenses, and net income over a period
Net Income Revenue minus expenses
Statement of Owner's Equity Shows changes in owner's equity (investments, withdrawals, net income)
Balance Sheet Shows assets, liabilities, and equity at a specific point in time
Basic Accounting Principles and Financial Statement Components.pdf Basic Accounting Principles and Financial Statement Components.pdf Basic Accounting Principles and Financial Statement Components.pdf
