acknowledging payment – potwierdzenie płatności
balance sheet – total assets balances with claims on those assets
3 owners claims on assets – retained earnings
contributed capital
Accounting Cycle – A series of steps performed during each accounting period to classify, record, and summarize data for a business and to produce needed financial information.
Compound journal entry – an accounting entry that involves more than two accounts.
Accounting – The discipline that measures, analyses and processes financial information regarding an entity
Explaining the significant events or development that occur usually taking the form of analysis and comparisons is: – Intepreting
working capital – this figure checks that there are enough assets which will turn into cash over the next year to cover liabilities that will need to be paid back over the next year. calculated by subtracting the current liabilities from current assets
potter – one who makes pots, cups, etc.
privately held corporation – does not allow investment by the general public and normally has fewer stockholders
Compare BEFORE and AFTER the tariff is imposed. Which of the following are TRUE? (check all that apply) 
The federal act which funds the administration of the federal and state unemployment compensation programs is: – FUTA (Federal Unemployment Tax Act)
Trail balance – a proof of the equality of total debits and credits, the fifth step in the accounting cycle.
Depreciation Expense – Decreases the asset and decreases equity
Cоmpаre BEFORE аnd AFTER the tаriff is impоsed. Which оf the following are TRUE? (check all that apply) 
assets to equity ratio (financial leverage ratio) – total assets / total stockholder's equity
11. – Know how to calculate the discount amount when given terms such as 2/10, n/60
contributed capital – the amount that stockholders invest in the business

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