Financial Accounting Ratios

Franked dividends – Dividends paid by a company and subject to company tax
Trial Balance – list of all accounts with their balances to provide a check on the equality of the debits and credits
6. – Know the normal balances for the different accounts:
Net Sales – The total amount of money the company will ultimately make after making a sale.

List price for product – discount applied to induce a customer to purchase.

The basic accounting equation that must be maintained at all times – assets = liabilities + stockholders' equity
investing activities – -a company needs to purchase resources in order to run its day to day operations
-acquisition or disposition of items such as land buildings and equipment
Inventory turnover ratio equation – Cost of goods sold divided by average inventory
interim reports – financial statements prepared for a month, quarter, or some other portion of fiscal year
According to the Read Scripture video on Ezekiel 34-48, who was Gog?
Retained Earnings – represents the cumulative net income of the entity
Purchase on Account – A transaction in which the merchandise purchased is to be paid for later.
Present Value and formula – is the current value of an amount to be received in the future; a future amount discounted fro compound inters.

PV = ((1 / (1 + I)N ) x Amount

rectificación de las declaraciones juradas del impuesto a las ganancias efectuadas en 2000 – ammending income tax returns filed for the 2000 period
Accоrding tо the Reаd Scripture videо on Ezekiel 34-48, who wаs Gog?
baker – one who makes and sells bread
sum-of-years digits method – yrs of assets life @ beginning/ sum of yrs of life
Ex. 4 years
Yr 1— fraction: 4/10 x depreciable base
Return on Assets Ratio – Net Income divided Average Total Assets

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