12 11 13 10 14 15 16 9 8 1 6 7 2 3 4 5 Financial information items Example #1 Total Assets Current & Long term Liabilities Total Revenue Total Expenses What is the income after taxes? (assume 50% tax rate) Financial information Example #2 What is the total Owner Equity of the company? Total Assets Liabilities What is the total net worth of the company? Debt to Equity is Working Capital is Financial Information Example #3 Current Assets Current Liabilities Long term liabilities Total Owner Equity What is the current ratio? Net Income = (Full Formula including line for Taxes) $ $ What is the value of the company's fixed assets? What is the fundamental accounting equation? $ $ Is equipment a current asset? $ 300,000 $ 265,000 Current $ 100,000 80,000 $ $ 300,000 200,000 500,000 200,000 Name 2 current assets 1,200,000 850,000 Financial statements using a Cash basis system do not have which two accounts? YES/NO How does accural system differ from cash system of accounting? What's another name for Stockholders or Owners equity? Retained earnings are which side of the balance sheet? Questions 1 and 2 Questions 3, 4 and 5 Long-term $ $ Questions 6, 7 and 8 100,000 $ 20,000 $ circle one Name the 5 main accounts used in the double entry system to journalize tranactions. Total 200,000 100,000 1 2

Financiel information items Erample of Totat Assets Curnert 8 Long lem Liabilin: Queations 1 and 2 Total Revenue Total Expenses 5. 1,200,000 s 300,000 1 What is the botal Omner Equly of fec company? 2. What is the hoome aher bues? (astime 50% tax rale) Financial information Example n Total Assess Lotetes Qvestone 3,4 and 5 3 What is the rodal net worh d the compasy? 4 Dobs to Equity ia 5 Woring Coptal h Finencial Infometion Example 23 Curvert Nesets Cunnt Wustion Long tom labilites Total Omner Equity 5300,000 Quetiona 6.7 and 8 \$. 300,000 5.500,000 6 What is the value of the correanys focd atrees? 7 What is ne cintutiono? 1 2 9 What is sof fundamental accourthog equation? 10 Net income : (Full Fomula neluding tine lor Tares) 12 Is equipment a cament asset? YESINO ercle one 13 Whats another name for Stodkhiders or Ownen equal? 14 Neme 2 current assess 15 Retained eamings are wticht side of the balance sheet