ACCT 201 Lecture 2: Chapter 2 Notes

81 views2 pages
15 Feb 2017
School
Department
Course
Professor

Document Summary

Liquidity: how quickly an item can be converted into cash. Classify assets and liabilities as current or long term. Assets a company expects to convert to cash or use up in one year or its. Prepaid expenses (insurance and supplies) = asset. Assets with relatively long useful lives that are currently used in operating the. The allocation of the cost of an asset to a number of years. Accumulation depreciation: the total amount of depreciation that the company has exposed thus far in the asset"s life. Original cost - total depreciation to date = net value. Assets that do not have physical substance. Obligations that a company is to pay within the next year or operating cycle. Accounts payable (flip side to accounts receivable ) Notes payable (flip side to notes receivable ) Obligations that a company is to pay after one year or operating cycle. Eps = (income preferred dividends) / average # of common shares outstanding.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers

Related Documents

Related Questions