ARBUS102 Lecture Notes - Lecture 2: List Price, Historical Cost, Ontario Securities Commission
3 Apr 2016
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Income statement to determine what income is for the business. Added to retained earnings: statement of retained earnings. Add in income (loss: balance sheet - all the assets, all the liabiliies and the shareholders" equity (common shares preferred shares, retained earnings) Total asset must = total liabiliies + total sh-eq: cash flow statement. The above is for a service company (would be diferent. For the month (year) ended december 31, 2015. Recall retained earnings is all the earnings that have been retained in the company since incorporaion. Current assets (converted to cash in < 1 year) Cash, accounts receivable, inventory, oice supplies, prepaid expenses. Property, plant and equipment land, buildings, machinery, oice equipment. Accounts payable, notes payable, wages payable, taxes payable, unearned revenue. Retained earnings (agree to ending balance on statement of r/e) For the month ended for january 31, 2010. Objecive: useful inancial informaion for decision makers resources allocaion.
