Question
. 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 |
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Liabilities |
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Owners Equity:(No entry here) | |||||
Owner, Capital |
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Owner, Withdrawals/Draws |
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Revenue |
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Expenses |
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