Our Explanation of Standard Costing uses an easy-to-relate to example for illustrating a manufacturer's standard costs and variances. Also provided is a chart which indicates each variance, what it tells you, and where...
Our Explanation of Standard Costing uses an easy-to-relate to example for illustrating a manufacturer's standard costs and variances. Also provided is a chart which indicates each variance, what it tells you, and where...
this and other important information pertinent to the income statement and the other financial statements. Mark the Cheat Sheet as Complete Must-Watch Video Learn How to Advance Your Accounting and Bookkeeping Career...
’ equity or to its total __________. 25. Information about a company’s lease commitments, contingent liabilities, and significant accounting policies can be found in the __________ to the financial statements. 26....
Our Explanation of Financial Statements provides you with the highlights of each of the five external financial statements issued by U.S. corporations. Our insights will give you a good understanding of what the...
Our Explanation of Present Value of an Ordinary Annuity uses the appropriate present value factors for discounting a stream of equal cash amounts occurring at equal time intervals. An important feature is the use of loan...
Neither balance sheet accounts nor income statement accounts 13. An internal report that a company prepares in order to test whether its general ledger debits are equal to its credits is a __________ balance. 14. A...
are an integral part of the financial statements. 30. Extensive financial information for a U.S. corporation whose stock is publicly-traded is readily available in which of the following? Select... Annual report to SEC,...
Our Explanation of Financial Ratios includes calculations and descriptions of 15 financial ratios. As you calculate the financial ratios you will also gain a deeper understanding of a company's operations and financial...
of your own company, the financial information may not be available. Here are some examples: A company may not distribute its financial statements to outsiders Only total sales are reported. Credit sales are not listed...
by reading our Debits and Credits (Explanation) and Additional Explanation. Use the following information for questions 1 and 2: A company receives $500 of cash as an additional investment in the company by its owner,...
Our Explanation of Payroll Accounting discusses the taxes and benefits which are withheld from employees' pay as well as the taxes and benefits that are expenses for the employers. Also provided are examples of the...
! Owner's (Stockholders') Equity is not involved in this transaction. Information for Items 10 through 13 Company X provides consulting services to Client Q in May. Company X bills Client Q in May for the...
Our Explanation of Bookkeeping provides you with a rich understanding of the recording of transactions. It then discusses the additional steps necessary for preparing accurate financial statements. This is great for...
Our Explanation of Payroll Accounting discusses the taxes and benefits which are withheld from employees' pay as well as the taxes and benefits that are expenses for the employers. Also provided are examples of the...
Our Explanation of Debits and Credits describes the reasons why various accounts are debited and/or credited. For the examples we provide the logic, use T-accounts for a clearer understanding, and the appropriate general...
Our Explanation of Debits and Credits describes the reasons why various accounts are debited and/or credited. For the examples we provide the logic, use T-accounts for a clearer understanding, and the appropriate general...
Our Explanation of Bank Reconciliation will show you the needed adjustments to the balance on the bank statement and also the adjustments needed to the balance in the related general ledger account. A comprehensive...
; Accounts Receivable of $80,000; and Inventory of $60,000. The total of its current liabilities is $120,000 and the total amount of its liabilities is $290,000. Given this information, the company’s quick ratio is...
Our Explanation of Income Statement helps you learn the most important features of a corporation's income statement (also known as the statement of operations or profit and loss statement). We provide more understanding...
supplementary data, management's discussion and analysis of financial condition and results of operations, as well as other information on the business, business risks, and more. Any questions left unanswered will...
. From this information it is likely that the project __________. Had An Internal Rate Of Return That Was Slightly GREATER Than 16% Wrong. Since the net present value of the project was a negative amount, the project is...
Our Explanation of Accounting Basics uses a simple story to introduce important accounting concepts and terminology. It illustrates how transactions will be included in a company's financial statements.
-line depreciation rate. Since the equipment in this question has a useful life of 10 years, the straight-line depreciation rate is 10% (100% divided by 10 years). Therefore, the DDB depreciation rate is 20% (double or...
Our Explanation of Debits and Credits describes the reasons why various accounts are debited and/or credited. For the examples we provide the logic, use T-accounts for a clearer understanding, and the appropriate general...
Our Explanation of Working Capital and Liquidity provides you with an in-depth look at the components of working capital and the challenges of converting current assets to cash before obligations come due. You will see...
Since our Explanation of Cash Flow Statement illustrates how the amounts are determined, you will get a better understanding of this very important financial statement. No longer will you look at only the income...
Our Explanation of the Balance Sheet provides you with a basic understanding of a corporation's balance sheet (or statement of financial position). You will gain insights regarding the assets, liabilities, and...
Our Explanation of the Balance Sheet provides you with a basic understanding of a corporation's balance sheet (or statement of financial position). You will gain insights regarding the assets, liabilities, and...
stockholders' equity to decrease) - Dividends declared (which causes stockholders' equity to decrease) +/- Other comprehensive income From the information given in the question, we know that during the...
to operating, investing, and financing activities. It also includes supplemental information. cash flow statement (or) statement of cash flows This financial statement reports the major changes in a corporation’s cash...
Our Explanation of Adjusting Entries gives you a process and an understanding of how to make the adjusting entries in order to have an accurate balance sheet and income statement. Eight examples including T-accounts for...
Our Explanation of Financial Ratios includes calculations and descriptions of 15 financial ratios. As you calculate the financial ratios you will also gain a deeper understanding of a company's operations and financial...
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