ACG-2021 Lecture Notes - Lecture 8: Treasury Stock, Current Liability, Deferral

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Retained earnings the net income retained in the corporation. Shows the amounts and causes of changes in retained earnings for a specific period of time. Balance sheet lists a firm"s assets and claims to those assets at a specific point in time. Asset claims are divided into 2 main categories liabilities and stockholders" equity. 2 sources of equity: equity contributed by owners (common stock, equity earned by operations (retained earnings) Provides information about the cash receipts and cash payments of a firm for a specific period of time involves operating, investing, and financing activities. Cash from operating activities: cash receipts (inflows) from sales, services, commissions, fees, and also from interest and dividends, cash payments (outflows) for inventories, salaries, operating expenses, interest, and taxes. Cash from investing activities: cash receipts (inflows) from selling long term assets (property, plant, equipment), or marketable securities (stocks & bonds), as well as collecting loans.

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