#### Study sets matching "accounting equations"

#### Study sets matching "accounting equations"

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

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

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

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

Accounting

Accounting System

Accounting Records

Service business

Planning, recording, analyzing, and interpreting financial in…

A planned process for providing financial information that wi…

Organized summaries of a business's financial activities

A business that performs an activity for a fee

Accounting

Planning, recording, analyzing, and interpreting financial in…

Accounting System

A planned process for providing financial information that wi…

allocation of net income based on stat…

allocation of net income based on capi…

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 stat…

net income x stated ratio

allocation of net income based on capi…

net income x (capital balance/total capital)

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 sa…

(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 sa…

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

Period cost

Prime cost

Conversion cost

Fixed cost element

Selling expenses + Admin expenses

Direct material cost + Direct labor cost

Direct labor cost + Manufacturing overhead cost

Total cost - Variable cost element

Period cost

Selling expenses + Admin expenses

Prime cost

Direct material cost + Direct labor cost

Percentage of Sales Approach

percentage of receivables approach

recievables turnover ratio

days in receivables ratio

bad debt expense= sales x percentage

recievables x percentage+/- allowance for bad debts

credit sales/ average receivables

365/ recievables turnover ratio

Percentage of Sales Approach

bad debt expense= sales x percentage

percentage of receivables approach

recievables x percentage+/- allowance for bad debts

Contribution Margin

Contribution Margin per Unit

Contribution Margin Ratio

Operating Leverage

Sales Revenue - Total Variable Cost

Price - Variable cost per unit

Contribution Margin / Sales Revenue

CM/Net Income

Contribution Margin

Sales Revenue - Total Variable Cost

Contribution Margin per Unit

Price - Variable cost per unit

variable cost per unit

fixed xosts

express variable and fixed cost in Y =…

calculate break even units

change in costs / change in days

high cost - (VCU x high days)

fixed costs + VC(high days)

difference in costs x fixed costs

variable cost per unit

change in costs / change in days

fixed xosts

high cost - (VCU x high days)

Accounting Equation

Current Ratio

Net Profit Margin

Debt-to-Assets Ratio

Assets = Liabilities + Stockholder's Equity

Current Assets/ Current Liabilities

Net Income/ Total Revenue

Total Liabilities/ Total Assets

Accounting Equation

Assets = Liabilities + Stockholder's Equity

Current Ratio

Current Assets/ Current Liabilities

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

Gross Profit

Net Income... (Income from Operations)

Cost of Goods Available for Sale

Cost of Goods Sold (Periodic Inventory)

Sales Revenue-Cost of Goods Sold

Gross Profit-Operating Expenses

Beginning Inventory+Cost of Goods Purchased

(Beginning Inventory+Purchases)-Ending Inventory

Gross Profit

Sales Revenue-Cost of Goods Sold

Net Income... (Income from Operations)

Gross Profit-Operating Expenses

Accounting Equation

Return on Assets (ROA)

Debt Ratio

Straight-Line Depreciation

Assets = Liabilities + Equity

Net Income / Average Total Assets

Total Liabilities / Total Assets

(Cost-Residual Value) / Useful Life

Accounting Equation

Assets = Liabilities + Equity

Return on Assets (ROA)

Net Income / Average Total Assets

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

asset

liabilities

owner's equity

accounting equation

Anything of value that is owned or controlled by an individua…

The debts of a business

The owner's investment in the business

Assets = Liabilities + Owner's Equity

asset

Anything of value that is owned or controlled by an individua…

liabilities

The debts of a business

Net Sales

Net Purchases

Gross Profit

COM sold

Sales... -Sales Discount... -Sale R&A

Purchases... +Transportation In... -PurchaseDiscount... -Sales R&A

Net Sales... -COM sold

Beg. Merch. Inv... -net purchases... -end. Merch. Inv.

Net Sales

Sales... -Sales Discount... -Sale R&A

Net Purchases

Purchases... +Transportation In... -PurchaseDiscount... -Sales R&A

current assets/current liabilities

net credit sales/average net accounts…

365 days/accounts receivable turnover

cost of goods sold/average inventory

current ratio

accounts receivable turnover

average collection period

inventory turnover

current assets/current liabilities

current ratio

net credit sales/average net accounts…

accounts receivable turnover

Accounting Equation

Owners Equity

Stockholder equity

retained earnings

Assets=Liabilities+Owners Equity

Asset-liability=owners equity

retained earnings* common stock

beginning retained earnings*Net income-Dividends

Accounting Equation

Assets=Liabilities+Owners Equity

Owners Equity

Asset-liability=owners equity

Days in inventory

Price earnings ratio

Gross profit rate

Free cash flow

365/inventory turnover

Market price per share/earnings per share

Gross profit/net sales

Net operating activities - capital expeditures - cash dividends

Days in inventory

365/inventory turnover

Price earnings ratio

Market price per share/earnings per share

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

Receivables Turnover Ratio

Average Collection Period

Inventory Turnover Ratio

Gross profit Ratio

Net Credit Sales/ ... Average accounts receivable

365 days/ ... receivables turnover ratio

Cost of goods sold/... average inventory

gross profit/ ... net sales

Receivables Turnover Ratio

Net Credit Sales/ ... Average accounts receivable

Average Collection Period

365 days/ ... receivables turnover ratio

price earnings ratio

working capital

inventory turnover

days in inventory

market price per share/earnings per share

current assets-current liabilities

cost of goods sold/average inventory

365/inventory turnover

price earnings ratio

market price per share/earnings per share

working capital

current assets-current liabilities

Receivables Turnover Ratio

Average Collection Period

Inventory Turnover Ratio

Average Days in Inventory

Net Credit Sales / Average Accounts Receivable

365 / Receivables Turnover Ratio

Cost of Goods Sold / Average Inventory

365 Days / Inventory Turnover Ratio

Receivables Turnover Ratio

Net Credit Sales / Average Accounts Receivable

Average Collection Period

365 / Receivables Turnover Ratio

straight line depreciation

return on asset ratio

times interest earned ration

current ratio

assets cost-residual/service life

net income/average total assets

net income+interest expense+tax expense/interest expense

current assets/current liabilities

straight line depreciation

assets cost-residual/service life

return on asset ratio

net income/average total assets

Assets =

Ending Stockholders' equity=

Change in stockholders' equity =

Change in stockholders' equity equatio…

Liabilities+ Stockholders' Equity

Beginning stockholders' equity + change in stockholders' equity

Insurance of stock + net income- dividends

Ending stockholders' equity - beginning stockholders' equity

Assets =

Liabilities+ Stockholders' Equity

Ending Stockholders' equity=

Beginning stockholders' equity + change in stockholders' equity

Working Capital

Current Ratio

Quick Ratio

Accounts receivable turnover

Current Assets - Current Liabilities

Current Assets / Current Liabilities

Quick Assets / Current Liabilities

Net Sales / Average accounts receivable

Working Capital

Current Assets - Current Liabilities

Current Ratio

Current Assets / Current Liabilities

- ROA

- Gross Profit Margin

- Current Ratio

- Quick Ratio

net income/average total assets

Net Sales-Cost of Goods Sold/Net Sales

Current Assets/Current Liabilities

(Cash and Cash Equivalents+Short Term Investments+Current Rec…

- ROA

net income/average total assets

- Gross Profit Margin

Net Sales-Cost of Goods Sold/Net Sales

Per Bank

Per books

Asset Turnover

Return on Assets

deposit in transit, outstanding checks, bank errors

other deposits other payments book errors

sales rev/avg total asset

Net Income/ avg total asset

Per Bank

deposit in transit, outstanding checks, bank errors

Per books

other deposits other payments book errors

Inventoriable products... Cost of goods a…

Inventoriable Products... Cost of goods s…

Total manufacturing costs

Prime Costs

beginning inventory + purchases + freight-in + import duties

cost of goods available for sale - ending inventory

DM + DL + MOH

DM + DL

Inventoriable products... Cost of goods a…

beginning inventory + purchases + freight-in + import duties

Inventoriable Products... Cost of goods s…

cost of goods available for sale - ending inventory

Cost of Goods Available

Cost of Goods Sold

Operating Income

Gross Profit

Beg Inv + purchases

Cost of Goods Available - Ending Inventory

Gross Profit - operating expenses - depreciation

sales revenue - cost of goods sold

Cost of Goods Available

Beg Inv + purchases

Cost of Goods Sold

Cost of Goods Available - Ending Inventory

cash+marketable security+accounts rece…

cost of sales/average inventory=

beginning inventory+ending inventory/2=

total sales/total property and equipme…

quick ratio

inventory turn over

average inventory

property and equipment turnover

cash+marketable security+accounts rece…

quick ratio

cost of sales/average inventory=

inventory turn over

working capital

current ratio

quick ratio

debt ratio

=total current assets - total current liabilities

=current assets / current liabilities

=total quick assets / total current liabilities

=total liabilities / total assets

working capital

=total current assets - total current liabilities

current ratio

=current assets / current liabilities

gross profit

net income ( income from operations)

net sales

profit margin

net sales -cost of goods sold

gross profit - operating expenses

sales revenue- (sales returns and allowances)

net income/ net sales

gross profit

net sales -cost of goods sold

net income ( income from operations)

gross profit - operating expenses

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