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. Write the names of the most important financial statements in the order in which they are prepared: A.______________________________________________ B.______________________________________________ C.______________________________________________ 2. Write the formula

. Write the names of the most important financial statements in the order in which they are prepared:

A.______________________________________________

B.______________________________________________

C.______________________________________________

2. Write the formula for each of the financial statements above:

(Something +/- something +/- something = something +/-something +/- something)

As your formula, use the words that would be the section headings and/or the bottom line of the financial statement.

Present the formulae in the order the statements are prepared.

Your formulae may be either horizontal or vertical and still be correct.

Statement A: Statement Name:_______________________________________

Statement Formula:

Statement B: Statement Name: ________________________________________________

Statement Formula:

Statement C: Statement Name: ___________________________________________________

Statement Formula:

3. Debits & Credits Review

Increase

Decrease

Account Type

With: (DR or CR?)

With: (DR or CR?)

Assets

Liabilities

Owners Equity:(No entry here)

Owner, Capital

Owner, Withdrawals/Draws

Revenue

Expenses

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