CH 1 Which financial statement are assets, liabilities, stockholders' equity, revenues, expenses, and dividends shown on? What exactly are these accounts? What determines net income/loss? What type of transaction triggers an entry on the Statement of Cash Flows, and which of the three sections would it go in? What is the historical cost concept? What are the two elements of stockholders' equity? How do you compute Retained Earnings? What are the four financial statements and in what order are they prepared? Which are prepared for a period of time and which are prepared at a point in time? CH 4 What are the three points of the fraud triangle? What are the types of internal controls? What are the key features of internal controls? CH 5 Who are the parties of a promissory note? Be able to calculate interest on notes receivable in years 1 and 2. What is the allowance method of accounting for uncollectible accounts? What is the net realizable value of accounts receivable? Where is it shown on the financial statements? How does a delinquent account write-off affect net realizable value? What is the uncollectible accounts expense? Where is it shown? How is it estimated? What are the advantages/disadvantages of accepting credit card sales? How are they accounted for? What are the inventory cost flow methods we studied and how are they applied? What is gross margin and how is it calculated