FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Concept explainers

Reporting Cash Flows
Reporting of cash flows means a statement of cash flow which is a financial statement. A cash flow statement is prepared by gathering all the data regarding inflows and outflows of a company. The cash flow statement includes cash inflows and outflows fro…
Balance Sheet
A balance sheet is an integral part of the set of financial statements of an organization that reports the assets, liabilities, equity (shareholding) capital, other short and long-term debts, along with other related items. A balance sheet is one of the …
Financial Statements
Financial statements are written records of an organization which provide a true and real picture of business activities. It shows the financial position and the operating performance of the company. It is prepared at the end of every financial cycle. It…
Owner's Capital
Before we begin to understand what Owner’s capital is and what Equity financing is to an organization, it is important to understand some basic accounting terminologies. A double-entry bookkeeping system Normal account balances are those which are expect…
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Q: USING THE BALANCE SHEET PROVIDED, WHAT IS THE AVERAGE OWNER'S EQUITY? EXPLAIN

Total Liabilities an Stock holder's Equity LIADIUTIES 2021 Current Labilities P125 Notes & Accs payable тахес payable P85 Other current liabilities P81 Total Current набићел Long Term liabilities TOTAL UABUTIE STOCKHOLDER'S EQUITY Stockholders Equity Capital Stock, P5 per value, 100, 000 issuled and outstanding chares Retained Earnings TOTAL STOCK HOLDER'S EQUITY TOTAL CABILITIES AND STOCKHOLDER'S EQUITY 292 Фиго P 942.00 500 чого 169 P107 рати f 358 P 858 P 1,800.00 P600 P 876.00 $ 500 If 274 $774 181,650.00
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Transcribed Image Text:Total Liabilities an Stock holder's Equity LIADIUTIES 2021 Current Labilities P125 Notes & Accs payable тахес payable P85 Other current liabilities P81 Total Current набићел Long Term liabilities TOTAL UABUTIE STOCKHOLDER'S EQUITY Stockholders Equity Capital Stock, P5 per value, 100, 000 issuled and outstanding chares Retained Earnings TOTAL STOCK HOLDER'S EQUITY TOTAL CABILITIES AND STOCKHOLDER'S EQUITY 292 Фиго P 942.00 500 чого 169 P107 рати f 358 P 858 P 1,800.00 P600 P 876.00 $ 500 If 274 $774 181,650.00
ASSETS Current Assets cash Marketable Secuntier Accounts Receivable Merchandise Inventory Other Current Assets Total Current Assets 2021 120 p45 210 € 150 P 80 1605.00 P210 If 1,129 | 120 # Fixed Accets Land Building Furniture a pixtures Store & office tauipments Total less Accumulated Deprelation Total Assets 20 20 P150 € 15 | f * 96 1555 3100 Total Fixed Acets $1,195 180 [12 42 P519 120 1209 +98 1.471 300 91, 131 P1,800.00 $1,650.00
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Transcribed Image Text:ASSETS Current Assets cash Marketable Secuntier Accounts Receivable Merchandise Inventory Other Current Assets Total Current Assets 2021 120 p45 210 € 150 P 80 1605.00 P210 If 1,129 | 120 # Fixed Accets Land Building Furniture a pixtures Store & office tauipments Total less Accumulated Deprelation Total Assets 20 20 P150 € 15 | f * 96 1555 3100 Total Fixed Acets $1,195 180 [12 42 P519 120 1209 +98 1.471 300 91, 131 P1,800.00 $1,650.00
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