Accounting: Debits & Credits

Does the issuing of stock dividends result in a decrease of retained earning? – Yes
Entry – Information for each transaction recorded in a journal
Balance sheet – shareholders equity
LT debt
Treasury stock
PP&E
Accounts payable
Stable Monetary Unit Assumption – The concept that states that accounting information should be measured and reported in the national monetary unit without adjustment for changes in purchasing power.
Additional Paid in Capital – Fair market value – (par value times # of shares)
Statement of Financial Condition; Balance Sheet – The report that shows the financial condition of the business at a point in time is called the
Quality of earnings ratio – A measure used to indicate the extent to which a company's earning provide a full and transparent depiction of its performance; computed as net cash provided by operating activities divided by net income.
owners' equity statement – a financial statement that summarizes the changes in owner's equity during a fiscal period
All the chemical reactions that occur in a cell are called
post-closing trial balance – A trial balance prepared after the closing entries are posted
The variance that LEAST affects cost control is the;
a. flexible-budget variance
b. direct-material-price variance
c. sales-volume variance
d. direct manufacturing labor efficiency variance – c. sales-volume variance
All the chemicаl reаctiоns thаt оccur in a cell are called
credit memorandum – a source document that grants credit to a buyer for purchase return or purchase allowance
GAAP – the rules that most companies have to follow in preparing their financial reports
1.IOP – (Initial Public Offering) a corporation's first offer to sell stock to the public.
Closing temporary accounts – The acronym REID is used when

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