BUSI 320 Liberty Exam 1 Questions &
Answers.
Income Statement - CORRECT ANSWER Sales
COGS
Gross Profit
Selling and Administrative Expenses
Depreciation
Operating Profit or EBIT
Interest
EBT
Taxes (%)
EAT
Preferred Dividends
Available to common stockholders
Common Shares
Earnings Per Share
Balance Sheet - CORRECT ANSWER Current Assets
Cash
Marketable Securities
Accounts Receivables
Less: Allowance for bad debts
Inventory
Prepaid expenses
Total current assets
Other assets
, Investments
Fixed assets
Plant and equipment
Less: Accumulated Depreciation
Net Plant and Equipment
Total Assets
Current Liabilities
Accounts payable
Notes payable
Accrued expenses
Total current liabilities
Long Term Liabilities
Bonds Payable
Total Liabilities
Stockholders Equity
Preferred Stock
Common Stock
Capital Paid in excess of Par
Retained Earnings
Total Stockholders Equity
Statement of Cash Flows Operating Activities - CORRECT ANSWER Add back Depreciation
AR
Inventory
prepaid expenses
AP
Accrued expenses
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