Business 1220 ch2 financal statements.doc

1 Page
Unlock Document

Business Administration
Business Administration 1220E
All Professors

Business1220FinancialStatementsCh23 FINANCIAL STATEMENTS1SOEStatement of Earnings over period of timeFinancial 2BSBalance Sheet at a specific timeinformation3SREStatement of Retained Earnings over the lifetimeComponents of a SOE0Gross Sales 1Net Sales Gross income Sales returnsallowancesSales discounts SALES2Cost of Goods Sold COGS Beg InvPurchasesEnding Inv COGS COGAFS Beg InvPurchasesequationGross Income Margin Profit Net SalesCOGS 3Operating ExpensesaGeneraladmin ExpEXPENSES3 types bSelling Expof OEcAmortization ExpEarnings from Operations Gross incomeOperating expenses 4Other IncomesOther Expenses interest earned sale of land money borrowed5Net earnings before taxEARNINGS6Estimated income tax expense Components of a BS7Net Earnings after tax ASSETS lower cost Current Assets liquidity1Current Assets Cash Marketable Securities ARAFDANARInventoryPrepaid2Investment in subsidiaries controlling interest owns 50 not shortterm NFS Other investments no controlling interestmkt value Property plantequip3Property plant and equipment Land no Dep Pl
More Less

Related notes for Business Administration 1220E

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.