Formulas Flashcards
1
Q
Income statement formula
A
Revenue - expenses = profit/loss
2
Q
Statement of Changes in Equity formula
A
Beginning balance -/+ net profit/loss
(-) dividends
= ending balance
3
Q
Balance Sheet formula
A
Assets = Liabilities + Equity
4
Q
Gross Profit Margin formula
A
Product sales - cost of goods sold / product sales
5
Q
Straight line depreciation
A
(Cost - salvage value) / useful life
