# Study sets matching "accounting equations"

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Assets Liabilites Equity Equation

Total Equity Equation

Retained Earning Equation

Net Income Equation

Assets = Liabilities + Equity

Common Stock + Retained Earning

Beginning Retained Earning + Net Income -Dividends =

Revenues - Expenses

Assets Liabilites Equity Equation

Assets = Liabilities + Equity

Total Equity Equation

Common Stock + Retained Earning

Inventory turnover Equation

Days in Inventory Equation

Calculating COGS Equation

Receivables Turnover Equation

COGS/Average inventory

365 Days/ Inventory turnover

Beginning Inventory + COGS purchase = COGS available for Sale…

Net Credit Sales/ Average Gross Receivables

Inventory turnover Equation

COGS/Average inventory

Days in Inventory Equation

365 Days/ Inventory turnover

Gross Profit

Net Income

Accounts Receivable Turnover Ratio

Inventory Turnover Ratio

Net Sales - COGS

Gross Profit - operating expenses - taxes

Net sales / average accounts receivable

COGS / Average inventory ... or ... Sales / Average inventory

Gross Profit

Net Sales - COGS

Net Income

Gross Profit - operating expenses - taxes

Assets Liabilites Equity Equation

Total Equity Equation

Retained Earning Equation

Net Income Equation

Assets = Liabilities + Equity

Common Stock + Retained Earning

Beginning Retained Earning + Net Income -Dividends =

Revenues - Expenses

Assets Liabilites Equity Equation

Assets = Liabilities + Equity

Total Equity Equation

Common Stock + Retained Earning

Accounting

Accounting System

Accounting Records

Service business

Planning, recording, analyzing, and interpreting financial inf…

A planned process for providing financial information that wil…

Organized summaries of a business's financial activities

A business that performs an activity for a fee

Accounting

Planning, recording, analyzing, and interpreting financial inf…

Accounting System

A planned process for providing financial information that wil…

Return on equity (ROE)

Earnings without interest expense (EWI)

Profit margin (PM)

Return on assets (ROA)

Return measure ; Net income/Avg. SE

Return measure; Net income + [Interest expense * (1- Statutory…

Profitability ratio; Earnings without interest expense (EWI) /…

Return measure; Earnings without interest expense (EWI)/Avg. t…

Return on equity (ROE)

Return measure ; Net income/Avg. SE

Earnings without interest expense (EWI)

Return measure; Net income + [Interest expense * (1- Statutory…

Net Profit Margin

current ratio

gross profit

gross profit percentage

net income / net sales (or operating revenues)

current assets / current liabilities

net sales - cost of sales

gross profit / net sales

Net Profit Margin

net income / net sales (or operating revenues)

current ratio

current assets / current liabilities

allocation of net income based on state…

allocation of net income based on capit…

Chapter 13--Corporations

preferred dividends =

net income x stated ratio

net income x (capital balance/total capital)

...

outstanding shares x par value x preferred dividend rate

allocation of net income based on state…

net income x stated ratio

allocation of net income based on capit…

net income x (capital balance/total capital)

Basic Accounting Equation

Net Income

Stockholders' Equity

Retained Earnings

Assets = Liabilities + Stockholders' Equity

Revenue - Expenses

Retained Earnings + Common Stock

Beginning Balance + Net Income - Dividends

Basic Accounting Equation

Assets = Liabilities + Stockholders' Equity

Net Income

Revenue - Expenses

COGAS (cost of goods available for sale)

Average Unit Cost

Net Sales

Ending inventory

(Beginning inventory) + (net purchases) + (shipping)

(total cost of all goods added up) / (Total # of units for sal…

(Gross sales) - (Sales returns and allowances)

(Beginning inventory) + (Net purchases) + (shipping) - (COGS)

COGAS (cost of goods available for sale)

(Beginning inventory) + (net purchases) + (shipping)

Average Unit Cost

(total cost of all goods added up) / (Total # of units for sal…

Current ratio

Working capital

Times interest earned

Debt to asset ratio

Current assets/ current liabilities

Current assets - current liabilities

(Net income + income tax + interest expense)/ interest expense

Total liabilities/total assets

Current ratio

Current assets/ current liabilities

Working capital

Current assets - current liabilities

accounts received equation

inventory equation

accounts payable equation

salaries payable equation

begin balance+sales rev-collections from customers

begin balance+purchases-cogs

begin balance+purchases-payments to supplier

begin balance+salalries expenses-salaries pay

accounts received equation

begin balance+sales rev-collections from customers

inventory equation

begin balance+purchases-cogs

Accounting equation

Net income

common shares

Retained earnings

Assets = Liabilities + Shareholders' equity

net income = revenue - expenses

Beg. common shares + common shares issued - common shares repu…

Beg. Retained Earnings + net income - dividends declared... reve…

Accounting equation

Assets = Liabilities + Shareholders' equity

Net income

net income = revenue - expenses

Income statement

Balance Sheet

Current Assets

Total Assets

revenue - expense = net income

assets - liabilities = owner's equity

Cash + Accounts Receivable + Inventory + Prepaid Expenses = cu…

Current Assets + Other Assets + Net Fixed Assets = total assets

Income statement

revenue - expense = net income

Balance Sheet

assets - liabilities = owner's equity

Unit Contribution Margin

contribution margin ratio

break even points in units

break even points in dollars

Unit selling price-unit variable costs

unit contribution margin/unit selling price

fixed costs/unit contribution margin

fixed costs/contribution margin ratio

Unit Contribution Margin

Unit selling price-unit variable costs

contribution margin ratio

unit contribution margin/unit selling price

Inventory Turnover Ratio

Gross Profit Percentage

Current Ratio

LIFO Tax Saving for one year

COGS/Avg. Inventory

Gross Profit/ Total Sales Revenue

Current Assets/ Current Liabilities

(Increase in LIFO reserve)(Tax Rate)

Inventory Turnover Ratio

COGS/Avg. Inventory

Gross Profit Percentage

Gross Profit/ Total Sales Revenue

Debt Ratio

Current Ratio

Net Sales Revenue

Gross Profit Percentage

Total Liabilities / Total Assets

Total Current Assets / Total Current Liabilities

Sales Revenue - Sales Returns and Allowances - Sales Discounts

Gross Profit / Net Sales Revenue

Debt Ratio

Total Liabilities / Total Assets

Current Ratio

Total Current Assets / Total Current Liabilities

Basic Accounting Equation

Net Income

Net Income (Loss)

Gross Profit

A = L + C... Assets = Liabilities + Capital

R - E... Revenue - Expenses

GP - E... Gross Profit - Expenses

NS - COMS... Net Sales - Cost of Merchandise Sold

Basic Accounting Equation

A = L + C... Assets = Liabilities + Capital

Net Income

R - E... Revenue - Expenses