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Where do different accounts fall wihin the financial statements.
Question: What are the financial statements made up of?
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Asset 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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What accounts are used in each financial statement.
Question: What goes into each of the financial statements?
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The components of the accounting equation.
Question: What is the accounting equation and the 3 components in the accounting equation?
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Definitions and examples of temporary and permanent accounts.
Question: What are temporary accounts? What are permanent accounts?
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Definitions 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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How 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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The 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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Calculating retained earnings and its part of stockholder's equity.
Question: How do you calculate retained earnings?
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How to calculate net income, what is included in net income.
Question: What is included in your income statement?
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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?
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