accounting system
recording operations
financial statements
terms
examples
100
income statement, retained earnings statement, balance sheet, and cash flow
What is the financial statements
100
transactions recorded on the right side
What is the income statement location
100
income statement
What is prepared first
100
ability to convert an asset to cash
What is liquidity
100
investments for your corporation
What is increase in cash
200
economic event that affects the financial statements
What is a transaction
200
stock issued to company owners
What is capital stock
200
retained earnings
What is prepared second
200
economic event that affects elements of the accounting equation
What is transaction
200
paying bills
What is decrease in cash
300
the accounting equation. assets = liabilities + stock holders equity
What is framework
300
cash assets, cash from financing, stockholders equity
What is the 3 areas of positive increase for investments
300
balance sheet
What is prepared third
300
portion of corporations stockholders equity contributed by investors
What is capital stock
300
making corporation stock available
What is issuing stock
400
the cash flow statement does not match the cash on balance sheet
What is an accounting error
400
stockholders equity decrease
What is paid dividends
400
statement of cash flow
What is prepared last
400
owners of the company and stock
What is investors
400
expenses as assets
What is fraud
500
where the cash flow is recorded
What is the left hand column
500
amounts invested by stockholders
What is capital stock increase
500
name of business, title of statement, date and period
What is financial statement identification
500
system that has rules, framework, and control
What is financial accounting system
500
cashing in your equity
What is selling of stock
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