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ACCT 2331 > EXAM 1 FORMULAS > Flashcards

EXAM 1 FORMULAS Flashcards

1
Q

Expanded Accounting Equation

Assets = Liabilities + Contributed Capital + Retained Earnings ? Revenues - Expenses – Dividends

A

+

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2
Q

Expanded Accounting Equation

Assets = Liabilities + Contributed Capital + Retained Earnings + ? - Expenses – Dividends

A

Revenues

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3
Q

Expanded Accounting Equation

Assets = Liabilities + Contributed Capital + Retained Earnings + Revenues ? Expenses – Dividends

A

-

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4
Q

Expanded Accounting Equation

Assets = Liabilities + Contributed Capital + Retained Earnings + Revenues - ? – Dividends

A

Expenses

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5
Q

Expanded Accounting Equation

Assets = Liabilities + Contributed Capital + Retained Earnings + Revenues - Expenses ? Dividends

A

–

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6
Q

Expanded Accounting Equation

Assets = Liabilities + Contributed Capital + Retained Earnings + Revenues - Expenses – ?

A

Dividends

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7
Q

Ending Retained Earnings on Statement of Stockholders’ Equity FORMULA

A

Beg Retained Earnings + Net Income - Net Loss - Dividends

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8
Q

Ending Retained Earnings on Statement of Stockholders’ Equity FORMULA

End Retained Earnings = ? + Net Income - Net Loss - Dividends

A

Beg Retained Earnings

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9
Q

Ending Retained Earnings on Statement of Stockholders’ Equity FORMULA

End Retained Earnings = Beg Retained Earnings ? Net Income - Net Loss - Dividends

A

+

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10
Q

Ending Retained Earnings on Statement of Stockholders’ Equity FORMULA

End Retained Earnings = Beg Retained Earnings + ? - Net Loss - Dividends

A

Net Income

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11
Q

Ending Retained Earnings on Statement of Stockholders’ Equity FORMULA

End Retained Earnings = Beg Retained Earnings + Net Income ? Net Loss - Dividends

A

-

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12
Q

Ending Retained Earnings on Statement of Stockholders’ Equity FORMULA

End Retained Earnings = Beg Retained Earnings + Net Income - ? - Dividends

A

Net Loss

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13
Q

Ending Retained Earnings on Statement of Stockholders’ Equity FORMULA

End Retained Earnings = Beg Retained Earnings + Net Income - Net Loss ? Dividends

A

-

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14
Q

Ending Retained Earnings on Statement of Stockholders’ Equity FORMULA

End Retained Earnings = Beg Retained Earnings + Net Income - Net Loss - ?

A

Dividends

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15
Q

Statement of Stockholders’ Equity FORMULA

A

End SE = Beg SE + Issuance of Stk + Net Inc – Net Loss – Div

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16
Q

Statement of Stockholders’ Equity FORMULA

End SE = ? + Issuance of Stk + Net Inc – Net Loss – Div

A

Beg SE

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17
Q

Statement of Stockholders’ Equity FORMULA

End SE = Beg SE ? Issuance of Stk + Net Inc – Net Loss – Div

A

+

18
Q

Statement of Stockholders’ Equity FORMULA

End SE = Beg SE + ? + Net Inc – Net Loss – Div

A

Issuance of Stk

19
Q

Statement of Stockholders’ Equity FORMULA

End SE = Beg SE + Issuance of Stk ? Net Inc – Net Loss – Div

A

+

20
Q

Statement of Stockholders’ Equity FORMULA

End SE = Beg SE + Issuance of Stk + ? – Net Loss – Div

A

Net Inc

21
Q

Statement of Stockholders’ Equity FORMULA

End SE = Beg SE + Issuance of Stk + Net Inc ? Net Loss – Div

A

–

22
Q

Statement of Stockholders’ Equity FORMULA

End SE = Beg SE + Issuance of Stk + Net Inc – ? – Div

A

Net Loss

23
Q

Statement of Stockholders’ Equity FORMULA

End SE = Beg SE + Issuance of Stk + Net Inc – Net Loss ? Div

A

–

24
Q

Statement of Stockholders’ Equity FORMULA

End SE = Beg SE + Issuance of Stk + Net Inc – Net Loss – ?

A

Div

25
Q

Adjusting Journal Entry for Prepaid Supplies FORMULA

A

Beg Bal of Supplies + Supplies Purchased - Supplies on Hand at End of Month = Supplies Used

26
Q

Adjusting Journal Entry for Prepaid Supplies

? + Supplies Purchased - Supplies on Hand at End of Month = Supplies Used

A

Beg Bal of Supplies

27
Q

Adjusting Journal Entry for Prepaid Supplies

Beg Bal of Supplies ? Supplies Purchased - Supplies on Hand at End of Month = Supplies Used

A

+

28
Q

Adjusting Journal Entry for Prepaid Supplies

Beg Bal of Supplies + ? - Supplies on Hand at End of Month = Supplies Used

A

Supplies Purchased

29
Q

Adjusting Journal Entry for Prepaid Supplies

Beg Bal of Supplies + Supplies Purchased ? Supplies on Hand at End of Month = Supplies Used

A

-

30
Q

Adjusting Journal Entry for Prepaid Supplies

Beg Bal of Supplies + Supplies Purchased - ? = Supplies Used

A

Supplies on Hand at End of Month

31
Q

Supplies Used is the amount in the following Adjusting Journal Entry

A

Supplies Expense

Supplies

32
Q

___ is the amount in the Adjusting Journal Entry for

Supplies Expense
Supplies

A

Supplies Used

33
Q

Adjusting Journal Entry for Interest Expense or Interest Revenue–ACCRUAL FORMULA

A

Interest = Face Amount x Interest Rate x Time Period (Time Period is a portion of a year)

34
Q

Adjusting Journal Entry for Interest Expense or Interest Revenue–ACCRUAL

Interest = ? x Interest Rate x Time Period (Time Period is a portion of a year)

A

Face Amount

35
Q

Adjusting Journal Entry for Interest Expense or Interest Revenue–ACCRUAL

Interest = Face Amount ? Interest Rate x Time Period (Time Period is a portion of a year)

A

x

36
Q

Adjusting Journal Entry for Interest Expense or Interest Revenue–ACCRUAL

Interest = Face Amount x ? x Time Period (Time Period is a portion of a year)

A

Interest Rate

37
Q

Adjusting Journal Entry for Interest Expense or Interest Revenue–ACCRUAL

Interest = Face Amount x Interest Rate ? Time Period (Time Period is a portion of a year)

A

x

38
Q

Adjusting Journal Entry for Interest Expense or Interest Revenue–ACCRUAL

Interest = Face Amount x Interest Rate x ?

A

Time Period (Time Period is a portion of a year)

39
Q

INTEREST is the amount in the following 2 Adjusting Journal Entry ENTRIES

A

INTEREST EXPENSE
INTEREST PAYABLE

INTEREST RECEIVABLE
INTEREST REVENUE

40
Q

___ is the amount in Adjusting Journal Entries

INTEREST EXPENSE
INTEREST PAYABLE

INTEREST RECEIVABLE
INTEREST REVENUE

A

INTEREST

ACCT 2331 (3 decks)

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