Ch 5 Accounting For Merchandising Operations

"Period of Time" – Investment by Owners
Flexible Budget – used to estimate total sales, costs, and profit at various sales levels. Per Unit sales price and variable costs do not change as volume changes. Contribution margin per unit does not change as volume changes. Total fixed costs do not change as volume changes.
accounting event – an economic occurrence that changes an enterprise's assets, liabilities, or stockholder's equity
uniform chart of accounts – tek düzen hesap planı
in balance – a condition in which the total of the debits and the total of the credits are equal in an account
Budgeted Income Statement – Budgeted Income Statement is an accounting report which predicts revenues earned and expense incurred for the budget period.
current assets and current liabilities will CHANGE as the company carries out business activities of the operating cycle – …
If after the B phase is withdrawn and the behavior goes back to baseline levels, one could reasonably assume that:
Bond payable is always reported as – depends if it is short term or long term but is a liability
extraordinary repairs – expenditures that EXTEND the service life of an asset
If аfter the B phаse is withdrаwn and the behaviоr gоes back tо baseline levels, one could reasonably assume that:
shareholder/stockholders – owner of the corporation

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply