This page is a not a question – this lists useful formulas A…
This page is a not a question – this lists useful formulas Assets = Liabilities + Equity Revenues – Expenses = Net Income Retained Earnings beginning balance + Net Income – Dividends = Retained Earnings ending balance Inventory beginning balance + Purchases – Cost of Goods Sold = Inventories ending balance Balance Sheet Presentation: Assets (Current Assets first then Non Current Assets); Liabilities (Current liabilities first then Non Current); Equity (Contributed Capital first and then Retained Earnings) A=Asset; E=Equity; L=Liability; Rev=Revenue; Exp=expense; D=dividends Contributed Capital E Capital or Common stock E Accounts Payable L Accounts Receivable A Marketable securities or Investment in Stocks/Bonds A Retained Earnings E Salaries paid Exp Sales Rev Cost of Goods sold Exp Commission to Salespersons Exp Property, Plant, and Equipment A Tax Payable L Cash A Inventories A Bonds Payable L Dividends paid D Additional Paid in Capital E Utilities Paid Exp Land A Computers A Advertising Exp Research and Development Exp Notes Payable L Depreciation Exp