Wgu C213 Accounting For Decision Makers

investor – مستثمر ، موَظِّف
Net profit – If the total of the operating expenses section of the income statement is smaller than the total of the income section, the difference is
Merchandise – Goods that a merchandising business purchases to sell
owners equity – how much a business is worth in dollar value
comprised of revenue-expenses+capital
net profit – revenues-expenses
net pay – the total earnings paid to an employee after payroll taxes and other deductions
Identify the Muscle at “4” 
Liquidity – ability to PAY upcoming obligations. order by which is expected to be turned into cash first.
book value – dif. between original cost & balance in accumulated depreciation
#24. What was the amount of dividends paid during the year? – revenues $43,000 minus expenses $34,000 + Retained earnings beginning balance $17,000 which equal $26,000. then subtract that with the ending balance $21,000.
Owners equIity – amount remaining after the value of all liabilities is subtracted from the value of all assets
what accounts after closing should = zero – revenue, expense, and devidends
Identify the Muscle аt “4” 
Explain how the segregation of duties serves as a major control for safeguarding cash – Requires that the person who has physical custody of the cash not be the same person who does the record keeping for cash
Post – Make an entry in an account. (p.47)
two steps to analyze money – FIRST STEP
is to analyze what changes with each transaction

is to quantify the economic impact of the change

cost of merchandise sold – the total original price of all merchandise sold during a fiscal period
Vendor – One who has made a sale is called a

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