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accounting

This class was created by Brainscape user Amalia Lombardi. Visit their profile to learn more about the creator.

By: Amalia Lombardi
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Decks in this class (11)

1. Nature of accounting
Single owner not a legal entity u...,
2 or more owners not a legal enti...,
Separate legal entity limited lia...
20  cards
Balance sheet
What is a balance sheet,
What is the standard format on th...,
Property of monetary value of a c...
20  cards
Income/ OE (retained earnings) statements
Presents the revenues expenses an...,
One of the two account types show...,
What are some examples of revenue
13  cards
Acct cycle: transaction analysis
Process of involving journalizing...,
What are the 5 main steps of the ...,
3  cards
Acct cycle: journal entries
Communicating of a business trans...,
Left side of a standard account,
Right side of a standard account
14  cards
Acct cycle: adjusting and closing
Journalizing adjusting entires an...,
Entries made at the conclusion of...,
Something has been paid in advanc...
8  cards
Cash and banking, notes and interest, uncollectables
1commercial paper draws on funds ...,
A bank form that lists cash item ...,
Process a drawer goes through to ...
31  cards
Merchandising and inventory
Goods purchased for resale at a p...,
An expense account to record the ...,
A contra purchases account used t...
16  cards
Depreciation and fixed assets
What does a depreciation affect,
Loss in value of a fixed asset du...,
Method of matching the cost of fi...
24  cards
Payroll and tax
How do you calculate gross salary,
How do you calculate wage hourly ...,
How do you calculate overtime rates
15  cards
Financial statement analysis
What are the three ways to compar...,
What are the three ways operating...,
What is the profit margin ratio e...
6  cards

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accounting

  • Class purpose General learning

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