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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The Corporate Income Statement and the Statement of Stockholders’ Equity

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Expanded Ledger  Income Statement: Revenue, Expenses Drawings

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

The Income Statement, Comprehensive Income, and the Statement of Cash Flows. Chapter 4. An income statement for a hypothetical manufacturing company that you can refer to as we proceed through the chapter. Income from Continuing Operations. Revenues

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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 Expanded Value Added Statement

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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 Expanded Ledger: Revenue, Expense, and Drawings

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THE RECORDING PROCESS

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The Income Statement and Statement of Cash Flows

The Income Statement and Statement of Cash Flows. 4. Learning Objectives. Explain the difference between net income and comprehensive income and how we report components of the difference. LO1. Comprehensive Income.

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The Income Statement, and Comprehensive Income.

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The Expanded Ledger: Revenue, Expense, and Drawings

The Expanded Ledger: Revenue, Expense, and Drawings. Unit 2-Chapter 5. Expanding the Ledger. Expanding the Ledger. In a group of 2 or 3, flip back to the transactions that we have done in class/individually: - Equation Analysis Sheet (pg 59, ex 1)

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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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