Accounting General Journal, 9e: Chapter 01

Current Ratio – current assets/ current liabilities
When the owner contributes personal truck to the biz, owner's or stockholder's equity _ – Increase
rental revenue – Income statement
Other revenues and gains
Present Value (PV) Concept – due to the "time value of money" or ability to invest money on-hand today, amounts or debts owed in the future are considered to be less in today's dollars.
2 Ways of Computing PV:
1.) PV of Single Amount
2.) PV of an Annuity (use only if equal payment amounts per period)
balance sheet – to show the financial position of a business on a certain date, usually the end of the month or year
Using a budgeted income statement to plan – …
Your body cells have altered MHC I complexes and are presenting stress proteins. Which immune cell will most likely respond?
Public accounting – the segment of the accounting profession that provides auditing income tax accounting and management consulting services to clients
Merchandise Inventory – The merchandise that a business sells to customers.
Officers salaries – Income statement
Operating expenses
Administrative expenses
Cash basis accounting – Accounting system that recognizes revenues when cash is received and records expenses when cash is paid
paid-in capital – stockholders' investments
– common stock
-preferred stock
Yоur bоdy cells hаve аltered MHC I cоmplexes аnd are presenting stress proteins. Which immune cell will most likely respond?
Book Value – the value of a security or asset as entered in a company's books.
Prepaid expenses will:
A) become liabilities when their future benefits expire
B) become expenses when their future benefits expire
C) become revenues when their future benefits expire
D) become none of the above – B) become expenses when their future benefits expire.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply