financial statement that measures activities involving cash receipts and cash payments
over an interval of time
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Statement of cash flows
cumulative amount of net income earned over the life of the company that
has not been distributed to stockholders as dividends
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Retained Earnings
, Total amounts owed to creditors for loaning money to the company
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Notes Payable
costs of assets acquired in one period that will be expensed in a future period
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Prepaid expenses
to record events that have occurred but that have not been recorded, such recording
insurance expense at the end of the month from a prepaid policy.
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adjusting entries
the specific time period (beginning and end) for which the accounts are aggregated,
balanced, and the financial statements are prepared
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Accounting Period
over an interval of time
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Statement of cash flows
cumulative amount of net income earned over the life of the company that
has not been distributed to stockholders as dividends
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Retained Earnings
, Total amounts owed to creditors for loaning money to the company
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Notes Payable
costs of assets acquired in one period that will be expensed in a future period
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Prepaid expenses
to record events that have occurred but that have not been recorded, such recording
insurance expense at the end of the month from a prepaid policy.
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adjusting entries
the specific time period (beginning and end) for which the accounts are aggregated,
balanced, and the financial statements are prepared
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Accounting Period
