Business Administration 2257 Study Guide - Final Guide: Interest Expense, Photocopier, Netbook
8 Dec 2015
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Bus 2257 lecture 1: the t-account: used for seeing the effect of debit and credit on two (or more) accounts. Credit: to make an entry, put the dollar amount on the appropriate side (debit or credit, whenever cash is received, debit cash, whenever cash is paid out, credit cash, no need for a $ sign. Type of accounts: assets, liabilities, equity (excess of assets over liabilities, revenue, expenses. Equations: d = c (debit always equals credit, equity = assets liabilities, revenue + expenses = income statement. Bus 2257 lecture 2: chapter 1-3 take-up. 25: internal users work for the company unlike external users. Examples of internal users include finance directors, marketing managers, production supervisors, etc. External users, however, are comprised of investors, lenders such as bankers, and suppliers: advantages and disadvantages of a) proprietorships and partnerships b) corporations, proprietor ships.
