Income Statement
What are the main sections of the income statement
Revenue - Expenses - Net Income or Net Loss
Things of value that a business has
Assets
If assets are worth 1 million and total liabilities are 460,000, what is the owner's equity?
What is 540,000?
Which Trojan Horse special event item had the worst performance?
What is the Hostess special?
An Income Statement is like a video because
it covers a period of time
Equity is the portion of a business' assets that is
owned
What is COGS when Sales Revenue is 25,000 and Gross Profit is 10,000.
What is 15,000?
Which Trojan Horse special event item had the best sales performance?
Krispy Balls
Sales Revenue - COGS equals
What is Gross Profit?
What are the main sections of the balance sheet
Assets - Liabilities - Owners Equity
If cash inflows are 12,000 and cash outflows are 5,600, what is the net cash flow for the period?
6,400
What was the goal of the special event items for the Trojan Horse.
To increase sales
Results when total expenses > total revenue
Net loss
The ability of a business to pay it's financial obligations
What is Solvency?
If 30% of your assets of 50,000 is debt/liabilities, what is the dollar amount of your equity?
35,000
Name a stakeholder for financial statements
Managers, Owners, shareholders, lenders, taxing authority, investors, etc.
How a net loss is indicated on a spread sheet.
number in parentheses
Occurs when cash outflows > cash inflows
What is a Negative net cash flow?
If sales revenue is 10,000 and net profit is 500, what is the net profit margin?
5 %
Term used to describe a financial statement prepared every 3 months.
What is quarterly