Intro To Accounting 20653 Exam 2 Laurie Wood Tcu

unstored goods – operating costs, expenses
Retained Earnings Equation – Ending Retained Earnings = Beginning Retained Earnings + Net Income − Dividends Declared
technical analysis – analysis of stcoks future
Industry Practices – Peculiarities of some industries and business concerns that cause variations from basic accounting theory or practice.

For example, agricultural companies often report crops at fair value because it is costly to develop accurate cost figures on individual crops. Pg.63

research and educational resources – noncurrent asset
monotributista – self-employed tax-payers
Trial Balance – A proof of the equality of debits and credits in a general ledger.
Deferrals – dollars first, action later
Product costs are converted from cost to expense when
what makes up equity accounts – common stock and dividends
Accounts Receivable – Amounts owed from customers.
Accounts payable – An unwritten promise to pay creditors for property,such as merchandise, supplies, or equipment, purchased on credit or for services received on credit.
Journal Entry – Is an accounting method for expressing the effects of a transaction on accounts in debits-equal-credits format.
resultados de inversiones en compañías vinculadas – gains or loss on investments in related companies
checking account – a bank account frome which payments can be orded by a depositor
Prоduct cоsts аre cоnverted from cost to expense when
cash receipt – Amount of money that is present in the cash register drawer at the end of the day minus the starting bank
going concern – it is assumed that the business will be operated in the future.
Par Value – An amount per share that when multiplied by the number of common shares becomes the corporations common stock amount.
Which of the following financial statements shows the net increase or decrease in cash during the period? – statement of cash flows

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply