The Expanded Ledger and the Income Statement The recording process continued

Jan 29, 2014

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The Expanded Ledger and the Income Statement The recording process continued

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The Income Statement and the Statement of Stockholders’ Equity

The Income Statement and the Statement of Stockholdersâ€™ Equity. Chapter 11. Learning Objective 1. Analyze a complex income statement. Allied Electronics Corporation Income Statement Year Ended December 31, 20x5. Sales revenue $500,000 Cost of goods sold â€“240,000

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Expanded Ledger  Income Statement: Revenue, Expenses Drawings. REF CHAPTER 5, P. 118-124 Practice : p.124 exercises #1,2,4 p. 126 exercises #3,5. When a company earns money  the equity section of the balance sheet _________.

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The Income Statement, Comprehensive Income, and the Statement of Cash Flows

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C. 4. hapter. The Income Statement and Statement of Cash Flows. Objectives. 1. Understand the concept of income. 2. Explain the conceptual guidelines for reporting income. 3. Define the elements of an income statement. 4. Describe the major components of an income statement.

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Chart of Accounts and Formal Financial Statements The recording process continued!

Unit. 4. Chart of Accounts and Formal Financial Statements The recording process continued!. Chart of Accounts. To help organize the expanded ledger, it is customary to number the accounts in the ledger. A list of the ledger account names and numbers, called a chart of accounts.

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Understanding The Recording Process

Understanding The Recording Process. Typical Chart of Accounts. Long-Term Liabilities (220-239) 222 Mortgage Payable OWNERS’ EQUITY (300-399) 301 Capital Stock 330 Retained Earnings SALES (400-499) 400 Sales Revenue EXPENSES (500-599) 500 Cost of Goods Sold 523 Rent Expense

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The Research Process Continued…

The Research Process Continued…. Preparing for Mr. Garlock’s Paper on Ethics in Research Practices. Avoiding Plagiarism: Paraphrasing and Summarizing Wendy Waller, Wicomico County Public Schools 2012. Let’s revisit your assignment…. What Key Skills Do You Need to Do Well?

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THE RECORDING PROCESS

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The Income Statement, and Comprehensive Income.

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The Expanded Ledger: Revenue, Expense, and Drawings

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Financial Accounting, Seventh Edition. The Recording Process. Chapter 2. The Account. An account is a record of increases and decreases in a specific asset, liability, equity, revenue, or expense item. The general ledger is a record containing all accounts used by the company. –. –. +. +.

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