Show:
I am Worthy
Balance with Me
Make a Statement
INCOMING!
100
Things of value that a person or business owns.
What is an ASSET?
100
Summarizes information about assets, liabilities, and owner's equity.
What is a BALANCE SHEET?
100
A financial statement that shows a snapshot of how a business is doing on a given day.
What is a BALANCE SHEET.
100
The money or promise of money, that is received from the sale of goods or services.
What is REVENUE?
200
Debts or amounts of money that are owed to others by an individuals or business.
What is a LIABILITY?
200
Money owed to business by customers.
What is an ACCOUNTS RECEIVABLE?
200
A financial statement that summarizes information about revenues and expenses.
What is an INCOME STATEMENT?
200
The money spent on things that are used to hep make revenue in a business such as advertising, employee salaries, maintenance, and utilities.
What is an EXPENSE?
300
A person's assets, after all liabilities are deducted.
What is PERSONAL EQUITY or NET WORTH?
300
Debt (money) that your business owes to other businesses.
What is ACCOUNTS PAYABLE?
300
This sheet is balanced because Assets = Liabilities + Owner's Equity.
What is a Balance Sheet?
300
The revenue of your business after deducting the expenses. (Total Revenue - Total Expenses)
What is NET INCOME?
400
A business owner's assets after all the liabilities have been deducted.
What is OWNER'S EQUITY?
400
The debt owed on a building.
What is a MORTGAGE PAYABLE?
400
Like a movie, shows how much money a business has made or lost over a period of time.
What is an INCOME STATEMENT?
400
When a business has more expenses than their total revenue.
What is NET LOSS?