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Class Notes for Accounting at Florida International University

Exam Study Guides for Accounting Courses

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ACG 2021 Lecture Notes - Lecture 34: Financial Statement, Retained Earnings, Income Statement
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Jeremiah Company recorded the following cash transactions for the year: Collected $80,000 from LENDERS Collected $260,000 from customers Paid $130,000 for salaries. Paid $10,000 in dividends. Paid $90,000 of goods a...

Accounting
ACG 2021
Alexander Sueiro
ACG 2021 Lecture Notes - Lecture 23: Retained Earnings, Net Income, Income Statement
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Operating Activities Revenues and expenses are main two Others include: Inventory, liabilities (payables not including banks), receivables, net income, net loss. Financial Statements Income Statement, retained earnings ...

Accounting
ACG 2021
Alexander Sueiro
ACG 2021 Lecture Notes - Lecture 13: Financial Statement, Deferral, Trial Balance
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Increases in liabilities or equity recorded on the right side CREDIT Decreases in liabilities or equity recorded on the left side DEBIT journal chronological record of transactions ledger grouping of all the Taccounts with...

Accounting
ACG 2021
Alexander Sueiro
ACG 2021 Lecture Notes - Lecture 12: Treasury Stock, Professional Code Of Quebec, Retained Earnings
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Equity stockholders ownership of business assets common stock, paid in capital, retained earnings, treasury stock, accumulated other comprehensive income, noncontrolling interest final resting place of retained earning ba...

Accounting
ACG 2021
Alexander Sueiro
ACG 2021 Lecture Notes - Lecture 16: Trial Balance, General Ledger, Retained Earnings
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internal transactions events that affect the financial position of he company but do not include an exchange with a separate economic entity example of internal transactions using supplies already purchased, earning revenu...

Accounting
ACG 2021
Alexander Sueiro
ACG 2021 Lecture Notes - Lecture 17: Quick Ratio, Retained Earnings, Promissory Note
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Two classifications of a classified balance sheet assets and liabilitiesequity Assets 1. current assets 2. longterm investments 3. PPE 4. intangible assets liabilities and equity 1. current liabilities 2. longterm liabilit...

Accounting
ACG 2021
Alexander Sueiro
ACG 2021 Lecture Notes - Lecture 5: Financial Statement, Current Liability, Accounts Payable
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Characteristics of Useful Information (4) 1. relevance 2. reliability 3. comparability 4. consistency Assumptions in financial reporting (4) 1. monetary unit: things that can be expressed in terms of money 2....

Accounting
ACG 2021
Alexander Sueiro
ACG 2021 Lecture Notes - Lecture 2: Accounts Payable, Common Stock, Accounts Receivable
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Creditors people we owe money to Note payable - debt financing activity - amount owed to a bank Bonds payable - debt financing activity - amount owed to bondholders Equity financing issuing or selling sh...

Accounting
ACG 2021
Alexander Sueiro
ACG 2021 Lecture Notes - Lecture 4: Matching Principle, Deferral, Accrual
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Standard classifications: Assets (4) 1. Current assets 2. Long-term investments (property, plant, and equipment) 3. Intangible assets 4. investing activity Standard classifications: liabilities and stockholder's equi...

Accounting
ACG 2021
Alexander Sueiro
ACG 2021 Lecture Notes - Lecture 9: Retained Earnings, Historical Cost, Double Taxation
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Proprietorship -Single owner or provider of for profit services -distinct entity from the person, not personal finances -business legally responsible for the debt Partnership - income and losses are divided upon a...

Accounting
ACG 2021
Alexander Sueiro
ACG 2021 Lecture Notes - Lecture 3: Treasury Stock, Net Income, Accounting Equation
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4 main components of the financial statement (in order) 1. income statement 2. retained earnings statement 3. balance sheet 4. statement of cash flows Income statement report of company's revenues and expenses f...

Accounting
ACG 2021
Alexander Sueiro
ACG 2021 Lecture Notes - Lecture 1: Common Stock, General Ledger, Double Taxation
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Sole Proprietorship Business ran and owned by one person Equity Accounts Common stock Dividends Expenses Revenues Liability Accounts Accounts payable Notes payable Accrued liabilities Unearned revenue ...

Accounting
ACG 2021
Alexander Sueiro
ACG 2021 Lecture Notes - Lecture 6: Trial Balance, Accounting Information System, Uptodate
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the accounting cycle (8) 1. analyze business transactions 2. journalize 3. post to ledger 4. prepare a trial balance 5. journalize and post adjusting entries 6. prepare an adjusted trial balance 7. prepare financ...

Accounting
ACG 2021
Alexander Sueiro
ACG 2021 Lecture Notes - Lecture 10: Income Statement, Retained Earnings, Financial Statement
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retained earnings amount earned through income producing activities and kept for use within the company - revenues, expenses, dividends revenues inflows of resources that increase retained earnings by delivering go...

Accounting
ACG 2021
Alexander Sueiro
ACG 4101 Lecture Notes - Lecture 10: Electronic Data Interchange, Xm Satellite Radio, Financial Statement
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X M L declaration and version attribute, and an optional encoding attribute all X M L document prologs start with name value pair all attributes have their own name and a value in a=the following format attributeNam...

Accounting
ACG 4101
stanislavjansta
Permachart - Marketing Reference Guide: Statement Of Changes In Equity, Retained Earnings, Cash Cash

permacharts MT FINANCIAL STATEMENTS • Financial statements are documents that are BALANCE SHEET (B/S) STATEMENT OF RETAINED EARNINGS (SRE) ...

Accounting
ACTG 2010
All Professors
Accounting II - Reference Guides

Advance your knowledge with our advanced Accounting II! This companion Guide to Accounting I develops the reader’s understanding of balance sheets before moving into an effective summary of how assets are treated for accou...

Accounting
ACTG 2010
All Professors
Cost Accounting - Reference Guides

Specialized Accounting quick reference information in one handy place! This Guide provides specialized reference material that flows naturally from the contents of its companion Guides Accounting I and Accounting II. The t...

Accounting
ACTG 2010
All Professors

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