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Michael Agwu
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Decks in this class (25)
Introduction To Financial Accounting
What is an asset,
What are examples of assets,
What are liabilities
9
cards
The Accounting Equation
What is the accounting equation,
If a business had 181k in liabili...,
What causes negative shareholders...
6
cards
Understanding Assets, Liabilities & Equity
What are the 6 types of accounts,
What is a current asset,
What is a long term asset
26
cards
Preparing Financial Statements
What are the four financial state...,
What does the income statement do,
Revenue expenses
12
cards
Preparing The Income Statement
What are the six types of accounts,
What are the two types of liabili...,
What should be the first step in ...
7
cards
Preparing The Statement Of Changes In Equity
What does the statement of change...,
What does the 3 line title consis...,
What are the two shareholders equ...
5
cards
Preparing The Balance Sheet
What is the date on a balance she...,
In a balance sheet what s on the ...,
How are assets listed
11
cards
Financial Ratios
What is the current ratio,
What are financial ratios,
What is considered to be a safe c...
8
cards
Journal Entries
What is newton s 3rd law and how ...,
What is accounting all about,
If i bought a car for 30 000 car ...
16
cards
Journal Entries Pt.2
What does deadcrls stand for,
What does dealer stand for,
What type of accounts are dea
6
cards
T-Accounts
What is a t account,
What goes on the left right of a ...,
Can journal entries be turned int...
3
cards
The Trial Balance
What does a trial balance do,
What is balance sheet order,
What does the trial balance help ...
8
cards
Adjusting Journal Entries
What are journal entries,
What does depreciation mean,
What are the 5 types of adjustments
3
cards
Closing Journal Entries
What is a closing entry,
What does red ale stand for,
What does red in red ale represent
7
cards
Bank Reconciliation
What is a bank reconciliation,
Are bank reconciliations dated ov...,
What are omissions called
5
cards
A/R - Percentage Of Sales Method
How does the percentage of sales ...,
How are percentage of sales metho...,
What is a r net
6
cards
A/R - Aging of Receivables Method
What is the aging of receivables ...,
How does the aging of receivables...,
What are the steps of the aging o...
3
cards
Writing Off Bad Debts (Receivables)
How do you write off a bad debt u...
1
cards
Inventory Discounts
What does 2 10 n 30 mean,
When you pay for inventory delive...,
Define freight
3
cards
Capitalize vs. Expense
What is a fixed asset,
What are examples of fixed assets,
What s included in the purchase o...
7
cards
Bonds
Are bonds long or short term,
What does bond maturation refer to,
What does yielding refer to
11
cards
Shareholders Equity
What are preferred shares,
What are cumulative dividends,
Are preferred common shares conve...
5
cards
Statement Of Cash Flows
What is the format of a cash flow...,
What are operating activities,
What are investing activities
9
cards
The Purpose of the Cash Flow Statement
Is net income an accrual based nu...,
___ is king,
Why do firms go bankrupt
8
cards
Indirect Method SOCF
What information does an income s...,
What is the format for the cfo se...,
What are adjustments to ni
8
cards
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Financial Accounting
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