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Textbook Notes for Cheryl Dyson

RYERSONACC 100Cheryl DysonFall

ACC 100 Chapter Notes - Chapter 2: Financial Statement, Income Statement, Double-Entry Bookkeeping System

OC6049052 Page
3 Jan 2016
44
Information is the end product of data processing. Once data has been categorized, analyzed, and formatted for presentation purposes it becomes informa
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RYERSONACC 100Cheryl DysonFall

ACC 100 Chapter Notes - Chapter 1: Tertiary Sector Of The Economy, Secondary Sector Of The Economy, Primary Sector Of The Economy

OC6049052 Page
3 Jan 2016
64
Business: the activity of making, buying, or selling goods or providing services in exchange for money. For-profit businesses --> purpose is to make a
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RYERSONACC 100Cheryl DysonFall

ACC 100 Chapter Notes - Chapter 4: Gross Profit, European Cooperation In Science And Technology, Accounts Payable

OC6049052 Page
3 Jan 2016
24
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RYERSONACC 100Cheryl DysonFall

ACC100 Chapter 5: Summary Notes

OC6049052 Page
3 Jan 2016
38
Used by businesses that sell a small number of expensive products which can be easily identified. Ex. art, diamonds, cars: average cost: calculate the
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RYERSONACC 100Cheryl DysonFall

ACC 100 Chapter Notes - Chapter 3: Accounts Payable, Retained Earnings, Income Statement

OC6049056 Page
3 Jan 2016
29
Even with the expanded accounting equation there is still not enough information for decision making purposes with just the elements --> need accounts.
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RYERSONACC 100Cheryl DysonFall

ACC 100 Chapter Notes - Chapter 1: Cash Flow

OC10746614 Page
8 Sep 2017
0
Business: act of making, buying or selling goods or providing services in exchange of money. Three main business sectors: primary sector: where raw mat
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RYERSONACC 100Cheryl DysonSummer

ACC 100 Chapter Notes - Chapter 1: Sole Proprietorship, Retained Earnings, Standard Cost Accounting

OC438793 Page
21 Oct 2013
43
Organization collection of individuals pursing the same goal/objective. Business entities generally organized to earn income (profit: sole proprietorsh
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RYERSONACC 100Cheryl DysonFall

ACC 100 Chapter Notes - Chapter 7: Subledger, Accounts Receivable, General Ledger

OC1651512 Page
21 Nov 2013
49
Subsidiary ledger: tracks the balance owed by each customer; the detail for a number of individual items that collectively make up a single general led
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RYERSONACC 100Cheryl DysonFall

ACC 100 Chapter Notes - Chapter 11: Treasury Stock, Retained Earnings, Issued Shares

OC1651512 Page
21 Nov 2013
23
Two major components of the shareholders" equity: contributed capital + Authorized shares: the maximum number of shares a corporation may issue as indi
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RYERSONACC 100Cheryl DysonSummer

ACC 100 Chapter Notes - Chapter 2: Income Statement, Financial Statement, Cash Flow Statement

OC438791 Page
21 Oct 2013
34
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RYERSONACC 100Cheryl DysonFall

ACC 100 Chapter Notes - Chapter 8: The Purchase Price, Capital Asset, Canada Revenue Agency

OC1651512 Page
21 Nov 2013
34
Acquisition cost: original cost, cost to acquire asset. Includes: purchase price, taxes paid at time of purchase (ex: sales tax, transportation charges
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