Search for tag: "accounting"
Major Discovery: AccountingBrother Kevin Kimball from the Accounting Department teaches about the importance and amends the misconceptions surrounding the Accounting Major. Accounting is a service-based job where you consult…
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Financial Statements Part 2Where do different accounts fall wihin the financial statements. Question: What are the financial statements made up of?
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Types of TransactionsAsset source transactions, asset use transactions, asset exchange transactions, and claims exchange transactions; examples of each. Question: What are the 4 main types of transactions?
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Financial Statements Part 1What accounts are used in each financial statement. Question: What goes into each of the financial statements?
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Definition of Assets, Liabilities, and Stockholder's EquityThe components of the accounting equation. Question: What is the accounting equation and the 3 components in the accounting equation?
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Temporary vs Permanent AccountsDefinitions and examples of temporary and permanent accounts. Question: What are temporary accounts? What are permanent accounts?
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Operating, Investing, and Financing ActivitiesDefinitions and examples of operating, investing, and financing activities and wording for the Cash Flows Statement. Question: What are definitions of operating, investing, and financing activities?…
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Adjusting Entry for Prepaid ExpensesHow and when you make the adjusting entry for a prepaid expense. Question: How and when do you make the adjusting entry for a prepaid expense?
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Accounting EquationThe accounting equation and the components and definitions/explanations of each component. Question: What is the accounting equation and the 3 components in the accounting equation?
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Retained EarningsCalculating retained earnings and its part of stockholder's equity. Question: How do you calculate retained earnings?
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Income StatementHow to calculate net income, what is included in net income. Question: What is included in your income statement?
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Balancing the Accounting EquationSolving for the missing component of the accounting equation (Asset, Liability, or Stockholder's Equity). Question: How do you keep the accounting equation in balance?
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Balancing Accounting Equation (Example)Solving for the missing component of the accounting equation (Asset, Liability, or Stockholder's Equity). Question: How do you keep the accounting equation in balance when given 2 of the 3…
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Balancing Equation, Affected Accounts Part 2Which Accounts go up or down depending on the transaction. Question: How do different transactions effect the Balancing Equation?
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Keeping Equation in BalanceHow different transactions effect the accounting equation. Question: How do I keep the accounting equation balanced?
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Balancing Equation, Affected Accounts Part 1Which Accounts go up or down depending on the transaction. Question: How do different transactions effect the Balancing Equation?
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Income, Retained Earnings Statement, Balance Sheet Part 3How different portions of Stockholders Equity allow you to find other portions. Question: How do the three different financial statements connect?
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Prepaid Expense and Unearned RevenueWhat and why businesses use prepaid expenses and unearned revenues. Question: What are prepaid expenses and unearned revenues?
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Income, Retained Earnings Statement, Balance Sheet Part 2How different portions of Stockholders Equity allow you to find other portions. Question: How do the three different financial statements connect?
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Income, Retained Earnings Statement, Balance Sheet Part 1What is Stockholders Equity made up of. Question: How do the three different financial statements connect?
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Income StatementHow to order items on the Income Statement. Question: What Items go onto an Income Statement?
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Retained Earnings Part 1What goes into retained earnings. Question: What is Retained Earnings?
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Income StatementWhat the aspects of Net Income are. Question: What is the Income statement made up of?
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Income Statement, Retained Earnings Statement, and the Balance SheetIncome Statement, Retained Earnings Statement, and the Balance Sheet
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Balance SheetHow a balance sheet is laid out. Question: What goes on a Balance sheet?
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