Wgu C213 Accounting For Decision Makers

Units-Of-Production Depreciation and formula – Is the method that allocates the cost of an asset over its useful life based on the relation of it periodic output to its total estimated output.

Depreciation Expense = ((Cost – Residual Value) / Estimated total production) x Actual Production

The full disclosure principle – iv.
account title – the name given to an account
Fiscal Period – length of time for which a business summarizes and reports financial information
communication expense – expense
Can management influence the ratios that measure liquidity – Yes
Birth certificates, wills, and Social Security data should be kept for up to 7 years.
authorize – وُكَّل ، مُفوّض
Cash Receipts Journal. – A book of original entries in which only cash receipts are recorded.
Cost principle – A principle that states that acquired assets and services should be recorded at their actual cost.
newest units – ending inventory
batch report – a report of credit card sales produced by a point-of-sale terminal
Birth certificаtes, wills, аnd Sоciаl Security data shоuld be kept fоr up to 7 years.
Cost accounting – Calculating costs of production, output. Involves preparing cost budgets, production planning and reports
Bond Premium – Is the difference between the selling price and par when the bond is sold for more than par.
Equity – Owner's claim on the assets of a business; equals the residual interest in an entity's assets after deducting liabilities; also called net assets.

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