accounting∶thelanguageofbusiness(存儲(chǔ)版)
【正文】 mstances ? Financial Statements (part of those reports) – Balance Sheet – Ine Statement – Statement of Cash Flows – Statement of Stockholders’ Equity 169。 2020 Pearson Education Introduction to Financial Accounting, 10/e 16 of 35 LO 3 Balance Sheet Transactions Transaction 3: Acquire Store Equipment for Cash, $15,000 Assets = Liabilities + Owners’ Equity Cash Store Equipment Note payable Lopez, Capital Bal. $500,000 = $100,000 $400,000 (3) –15,000 +15,000 = Bal. 485,000 15,000 = 100,000 400,000 $500,000 $500,000 169。 2020 Pearson Education Introduction to Financial Accounting, 10/e 20 of 35 LO 5 – Comparative Ownership Features ? Advantages of a Corporation – Limited liability (claims against corporate assets only – not personal assets of managers) – Easy transfer of ownership – Ability to raise capital from thousands – Continuity of existence – Prestige ? Disadvantages of a Corporation – Unfavorable tax laws (double taxation on distributed earnings) – Regulation 。 2020 Pearson Education Introduction to Financial Accounting, 10/e 13 of 35 LO 3 Balance Sheet Transactions ? Every transaction of a pany or entity affects the balance sheet equation – An entity is an anization that stands apart from other anizations and individuals as a separate economic unit for which the balance sheet is being prepared – A transaction is any event that affects the financial position of that entity and that can be reliably recorded in money terms ? At least two accounts wi
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