Other Final Equations Flashcards
0
Q
Net income
A
Revenues - expenses
1
Q
Assets
A
Liabilities + stockholders equity
2
Q
Current retained earnings
A
Prior retained earnings + net income - dividends
3
Q
Shareholders equity
A
Common stock + retained earnings
4
Q
End cash balance
A
Balance sheet end balance that’s where it’s found
5
Q
Cost of goods sold
A
Beginning inventory + purchases - end inventory
6
Q
Cost of goods available for sale
A
Beginning inventory + purchases
7
Q
Depreciate cost
A
Cost - salvage value
8
Q
Depreciation cost
A
Depreciation cost / useful life in years
