Income Statement
Balance Sheet
Random Vocab
MATH!!
100
This expense is an allocation of the cost of our equipment over the time we expect to use it.
What is Depreciation
100
This category includes the amount WPD pays to Spencer so he can pay our taxes.
What is Tax Draws
100
The term we use to refer to the orders that are filled from our warehouse in the Netherlands
What is E1
100
Revenue minus Cost of Goods Sold minus Business Expenses
What is Profit Before Tax
200
This expense category includes the costs of our building and grounds including lawn mowing, rent & utilities
What is NVA-Facility
200
This is the loan that WPD uses for the purchase of equipment such as molds and large machinery.
What is Long Term Loan
200
The broad category on the balance sheet that includes the amounts we owe to others such as Accounts Payable.
What is Liabilities/Debt
200
Shipments plus Shipping plus Sales & Shipping Discounts
What is Revenue
300
This COGS category includes the cost of FedEx, boxes & tape used to ship customer orders.
What is NVA-Shipping
300
This is the value of Raw Materials, Work in Process and Finished Goods at WPD & at E1
What is Inventory
300
The financial statement that shows Revenue, Cost of Goods Sold, Expenses & Profit or Loss
What is Income Statement or Profit & Loss Statement
300
Gross Profit divided by Revenue
What is Gross Profit Percent
400
This expense category includes depreciation & repairs to our equipment
What is VA-Equipment
400
This is the total purchase cost of all the equipment we have at WPD.
What is Plant & Equipment
400
The Financial Statement that shows WPD's Assets (what we own), Liabilities (what we owe) and Equity
What is the Balance Sheet
400
Revenue minus Cost of Goods Sold
What is Gross Profit
500
This expense category includes items such as Commissions paid to our reps, trade show costs and legal costs for trademarks.
What is NVA-Sales & Marketing
500
This is the sum of all WPD's prior year's profits or losses. This number stays the same throughout the year & never changes.
What is Prior Year Retained Earnings
500
The difference between normal wholesale price and a discounted price given to customers or the value of free shipping given during a promotion
What is Sales & Shipping Discounts
500
Total Available to Ship plus Starting Backlog minus Revenue
What is Ending Backlog
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