Chapter 4 Double Entry Accounting

Chart of Accounts. – A list of all the account titles and the account numbers assigned to them.
Dividends – Payments of cash from a corporation to its stockholders.
Equity – what remains- owner's residual claim to the assets
Accounting cycle – the accounting period of a business is separated into activities that help the business keep its accounting records in an orderly fashion.
Copyrights – Is the exclusive right to publish, use, and sell a literary, musical, or artistic work.
Shareholders – Have the right subject to the by-laws to vote on corporate matters and to share in dividends, based on how many shares they own.
Leasehold improvements – Alterations or improvements to leased property such as partitions and storefronts.
suspend – Zahlungen einstellen
Accounting – Communicate information to users so they can make an informed decision
The more people you meet early on in your college career, the more support you can build for yourself.
mercadería de reventa – goods for resale
Common Types of Long-Term Capital Investments: – 1. Purchasing new equipment to reduce costs.
2. Purchasing new property or equipment for expansion.
3. Replacing equipment currently used.
4. Purchasing another company.
5. Adding a new product line that requires additional long-term assets.
Principles & Assumptions of Accounting 5: Full disclosure principle – requires a company to report the details behind financial statements that would impact users decisions
reconocimiento de ingresos – revenue recognition
investee – متلقي الاستثمار
transaction – a particular kind of event that involves transferring something of value between two entities
The mоre peоple yоu meet eаrly on in your college cаreer, the more support you cаn build for yourself.
Step 1 – Step of Closing Process: Close revenue accounts and cost of goods sold accounts with credit balances to Income Summary.

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