practice questions Flashcards
revenue from cash sales affects which two accounts
assets and equity
the matching principle in accounting requires the matching of
revenue earned with the assets used to produce the revenue
a cash flow statement…
provides aggregate data regarding all cash inflows and outflows during an accounting period
what is a shares nominal value
a feed amount that represents the notional value of the shares worth
which two accounts of the financial statement are not directly connected
net profit and share capital
when the owner invested more cash into the company how would the company record the transaction by double entry book keeping
debit cash credit capital
how to work out market value and premium shares
market value=public stock market/ new shares
share premium=market value-each share
