,
,
, 1. Principle 3. Assumption
2. Assumption 4. Principle
QuickdStudyd1-5d(10dminutes)
AttributedPresent Proprietorship Partnership Corporation LLC
1. Businessdtaxed no no yes no
2. Limiteddliability no no yes yes
3. Legaldentity no no yes yes
QuickdStudyd1-6d(10dminutes)
1. Revenuedrecognitiondprinciple
2. Measurementd(cost)dprinciple
3. Businessdentitydassumption
QuickdStudyd1-7d(5dminutes)
Assets = Liabilities + Equity
$700,000 (a)d $280,000 $420,000
$500,000 (b)d $250,000 (b)d $250,000
QuickdStudyd1-8d(10dminutes)
1.
Assets = Liabilities + Equity
$75,000 (a)d $35,000 $40,000
(b)d $95,000 $25,000 $70,000
$85,000 $20,000 (c)d $65,000
2.
+d Common
Assets = Liabilities Stock -d Dividends +dRevenues -dExpenses
$40,000 $16,000 $20,000 $ 0 (a)d$12,000 $d 8,000
$80,000 $32,000 $44,000 (b)d$2,000 $24,000 $18,000
,
, 1. Principle 3. Assumption
2. Assumption 4. Principle
QuickdStudyd1-5d(10dminutes)
AttributedPresent Proprietorship Partnership Corporation LLC
1. Businessdtaxed no no yes no
2. Limiteddliability no no yes yes
3. Legaldentity no no yes yes
QuickdStudyd1-6d(10dminutes)
1. Revenuedrecognitiondprinciple
2. Measurementd(cost)dprinciple
3. Businessdentitydassumption
QuickdStudyd1-7d(5dminutes)
Assets = Liabilities + Equity
$700,000 (a)d $280,000 $420,000
$500,000 (b)d $250,000 (b)d $250,000
QuickdStudyd1-8d(10dminutes)
1.
Assets = Liabilities + Equity
$75,000 (a)d $35,000 $40,000
(b)d $95,000 $25,000 $70,000
$85,000 $20,000 (c)d $65,000
2.
+d Common
Assets = Liabilities Stock -d Dividends +dRevenues -dExpenses
$40,000 $16,000 $20,000 $ 0 (a)d$12,000 $d 8,000
$80,000 $32,000 $44,000 (b)d$2,000 $24,000 $18,000
