Accounting formula sheet - Study guides, Study notes & Summaries

what are assests - ️️resources controlled by company basic elements of balance sheet - ️️assests liabilities stockholder equity sole proprietorship - ️️1 person owning company partnership - ️️2 or more owners corporation - ️️separate entityfrom legeal and accounting perspective accounting equation - ️️A=L+SE how are debits and credits displayed - ️️DR on left and CR on right expenses - ️️all cost of doing business that are necessary to earn ...

WGU C213 Final Exam: ACCOUNTING FOR DECISION MAKERS Questions And Answers (2022/2023) Verified. What does accounting focus on(answer) The impact a business's activities have on its overall financial performance 2. Which report summarizes cash collections and cash expenditures from operating, investing, and financing activities over a period of time(answer) State- ment of cash flows 3. Which users would have a primary concern with an organization's ability to provide healthcare benefits(a...

Breakeven Point? total cost = total revenue Working capital ratio current assets / current liabilities Acid-test (quick) ratio (cash + AR + short-term investments) / current liabilities debt to assets ratio total liabilities/total assets FTE (full time equivalent) total number of hours per employee in a week / 40 (i.e. 12+14+40+30 div. by 40) Profit margin NOI/Tot. Revenue. Defined as "income to sales. 2 types, gross prof margin and net prof margin) ...

ACG 2021 Exam 1 Questions and Answers Already Passed Which document provides a snapshot of a company's assets and liabilities at a specific point in time? A balance sheet, which reports the assets and claims against those assets. What is the fundamental accounting formula? Assets = Liabilities + Equity What does "common stock" represent in financial terms? The total amount contributed by shareholders in exchange for their shares. How is a corporation defined in business ter...

what are assests - Answer resources controlled by company basic elements of balance sheet - Answer assests liabilities stockholder equity sole proprietorship - Answer 1 person owning company partnership - Answer 2 or more owners corporation - Answer separate entityfrom legeal and accounting perspective accounting equation - Answer A=L+SE how are debits and credits displayed - Answer DR on left and CR on right expenses - Answer all cost of doing busi...

MICHIGAN BUILDERS EXAM WITH COMPLETE SOLUTIONS 100% VERIFIED When it comes to comparing short-term and long-term income with the timeframe when costs and expenses were incurred, it would be best to️️match the inflow and outflow of cash and place both in the same tax period. What is the disadvantage of using the accrual method of accounting?️️this system requires more recordkeeping The ________ summarizes the cash inflows and outflows from operating, investing, and financin...

Accounting Style - ️️The ________________ __________ format that displays a fixed dollar sign to the left of a number, inserts a comma every three positions to the left of the decimal point, and displays numbers to the nearest cent (hundredths place). Which of the following is False about a function in Excel - ️️Functions are organized into two categories in Excel. Formula ___ displays a list of functions and defined name that match the letters that you start typing when creating...

CDFM - Module 3 Exam Questions & Answers | Latest Update | Verified & Updated| 19 pages What is the Budgetary Account formula? - Answer ️️ -Recourses = Status of Resources Source of Incoming Funds = Use/location of Funds Under the Prompt Pay Rules, when is Constructive Acceptance considered to take place? - Answer ️️ -when acceptance document has not been received in a timely manner (NLT 7 calendar days after receipt What are the 5 valid voucher requirements - Answer ️️ -(1) ...

1. Activities of a firm which require the spending of cash are known as: A. sources of cash. B. uses of cash. C. cash collections. D. cash receipts. E. cash on hand. 2. The sources and uses of cash over a stated period of time are reflected on the: A. income statement. B. balance sheet. C. tax reconciliation statement. D. statement of cash flows. E. statement of operating position. 3. A common-size income statement is an accounting statement that expresses all of a firm's expenses a...

Income Statement Formula: Revenues - Expenses = Net Income Statement of Stockholder's Equity Formulas: Common Stock Equation: Beginning Common Stock + Issuance of New Common Stock = End Balance of Common Stock (Beg. C.S. + Issuance = End. C.S.) Retained Earnings Equation: Beginning Retained Earnings + Net Income - Dividends = End Balance of Retained Earnings. (Beg. R.E. + N.I. - Div. = End. R.E.) Balance Sheet Formula: Assets = Liabilities + Stockholder's Equity Order of Financial Statemen...