accounting∶thelanguageofbusiness-預(yù)覽頁
【正文】 work for the reporting entity) bookkeepers/accountants analyze event to determine what elements/accounts are affected, then record the event into records 3. Records are summarized into financial statements 4. Financial reports that include the statements are provided to users who make decisions 169。 2020 Pearson Education Introduction to Financial Accounting, 10/e 10 of 35 LO 2 The Balance Sheet Assets – economic resources that the pany owns or controls from past transactions/events that it expects to help generate future benefits ? Accounts – subdivision of the element Assets – Cash and cash equivalents – Accounts Receivable (Customer bought it on credit) – Inventories (Merchandise, Supplies, Parts) – Prepaid Expenses (taxes, utilities, insurance) – Property – Plant – Equipment Current Assets Longterm Assets 169。 2020 Pearson Education Introduction to Financial Accounting, 10/e 15 of 35 LO 3 Balance Sheet Transactions Transaction 2: Loan of $100,000 from Bank Assets = Liabilities + Owners’ Equity Cash Note payable Lopez, Capital (1) + $400,000 = +$400,000 (2) + $100,000 = + $100,000 Bal. $500,000 = $100,000 $400,000 $500,000 $500,000 169。 2020 Pearson Education Introduction to Financial Accounting, 10/e 19 of 35 LO 5 – Comparative Ownership Features ? Sole proprietorship – a single owner ? Partnership – two or more coowners ? Corporation – created under (.) state laws – Publicly owned – Owned by the public through the sale of sha
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