Fundamental Accounting Principles

Net earnings – gross pay less payroll deductions; an employee's take home pay.
Sales Returns & Allowances – …Is a Debit balance account.
Dow Jones Average – deteermines how market is doing at a whole
Long-term assets: intangibles – Patents and copyrights. Less accumulated amortization
Periodic inventory system

Plus formula – computes figures from the physical count, at beginning and end of period.

The formula is:

Beginning + purchases inventory – ending inventory = cogs

Equivalent units are calculated separately for each input. – True
Rule 203 of the Code of Professional Conduct address:

A. auditing financial statements.

B. financial statements should be based on generally accepted accounting principles.

C. ethical requirements.

D. advertising to obtained clients. – B. financial statements should be based on generally accepted accounting principles.

Balance Sheet – Assets, Liabilities, Stockholders Equity
production costs – Produktionskosten
The low equilibrium vapor pressure of water is due to
Accounting – The process of planning, recording analyzing and interpreting financial info
Time period concept – we have to stop and measure. Usually done every year, never covers more than a year, but can be less than a year.
Bonds Investments, Readily Marketable, Almost as liquid as cash, Capital stock investments, Current Assets – Short-Term Marketable Securities
The lоw equilibrium vаpоr pressure оf wаter is due to
Advertising expenses would be reflected on the – Income statement

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