Which Financial Statement? BS or IS
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Created by:
aracelitcu on September 10, 2011
Subjects:
Description:
Test 1
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18 terms
English | Russian |
|---|---|
 Balance Sheet | have, owe, own |
| Income Statement | provided to customers, provided to the company |
| Balance Sheet | cash received from investors in exchange of ownership (affect owners equity) |
| Balance Sheet | cash borrowed from the bank that must be repaid (liability) |
| Balance Sheet | products held to sale to customers (assets) |
| Income Statement | the value of products that have been provided to customers (about sales) |
| Balance Sheet | cash paid for equipment (asset) |
| Balance Sheet & Income Statement | the cost of electricity used this month, not yet paid (liabiltiy OWE, expenses USED IT) |
| Balance Sheet | amounts owed to suppliers for material to make product |
| Income Statement | the cost of borrowing money (expense) |
| Balance Sheet & Income Statement | salaries of empolyees who worked to increase sales, not yet paid |
| N/A | money paid back to owners (a dividen) |
| Income Statement | profits earned for the period |
| Income Statement | the value of services that were provided to customers |
| Income Statement | money earned on cash held in short term investments |
| Income Statement | executive travel costs for travel taken this period |
| Balance Sheet | Insurance coverage paid ahead of time for the next 6 months (not used) |
| Balance Sheet | land owned by the company (purchsed several years ago)(P/P/E) |
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