Two categories of stockholder's equity usually found in the balance sheet of a corporation – Common stock and retained earnings
Adjusting Entry Depreciation Expense – accumulated depreciation, equipment
statement of returned earning – beginning balance +/- net income less devidends
round lot – an amount of stocks that is the usual trading number
revenue accounts – the inflow of net assets from providing products and services to customers increase equity through increases in revenue account
International Financial Reporting standards – Standards issued by the International Accounting Standards Board
Adverse Opinion – States that the financial statements do not present fairly the financial position, results of operations, or cash flows of the entity in conformity with US GAAP
Decreased – An entry made on the debit side of the proprietorship account indicates that the account has been
In Venice, oil paint largely supplanted ______________________, a quick-drying paint bound by egg yolk that produced a flat, opaque surface.
Differential cost – a difference in cost between two alternatives (p44)
employer payroll taxes journal entry – debit payroll taxes expenses; debit FICA-SS, debit FICA-medicare, debit Stated unemployment tax pay, debit federal unemployment tax pay
Credit – An amount entered on the right side of an account.
Normal Balance – The side of the account that is increased
Journal – any book of original entry.
capital account – an account used to summarize the owners equity of a business
cost of merchandise sold – the total original price of all merchandise sold during a fiscal period
In Venice, оil pаint lаrgely supplаnted ______________________, a quick-drying paint bоund by egg yоlk that produced a flat, opaque surface.
Tunnel vision – Focus on goal to exclude everything else
trading loss – Betriebsverlust
Batching out – The process of preparing a batch report of credit card sales from a poin-of-sale terminal called batching out.
IVA responsable inscripto – V A T registered tax payer