Account

sistema integrado de jubilaciones y pensiones FIJP – pension fund system SIJP
capital structure – The mixture of liabilities and stockholders' equity in a business.; debt-to-assets ration is a good indicator
What is the purpose of a contra account? – A contra account is linked to another account and records decreases in the value of the account without changing the original value shown.
net profit – revenue exceeds expenses
indirect method – not equal to income of a firm
accural basis does not emphasize cash flows
most companies use the indirect method
-start w/ net income and convert by adding/subtracting certain amts
Financial Elements – Assets
Liabilities
Owner's Equity
Income
Expenses
Sheldon's Jewelers uses the specific identification method of inventory costing. During May, Sheldon purchased 3 gemstones for $4,000, $5,000, and $6,000 respectively. During May, Sheldon sold two of the gemstones for $6,500 each. At the end of May, Sheldon determined that the $6,000 gemstone was still in his inventory. What is Sheldon's gross profit for the month of May?
A. $500.
B. $4,000.
C. $2,000.
D. $3,000. – B
A measure of antibody level in a patient
liability – an economic obligation (debt) payable to an individual or an organization outside the business.
Cumulative Feature – A feature of preferred stock gives the stockholder the right to receive unpaid dividends from previous years before current year dividends are distributed to common stockholders.
A meаsure оf аntibоdy level in а patient
Government and their agencies – They are interested in the allocation of resources and, therefore, the activities of entities.

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