Financial Statements

Debit cash proceeds

Credit investment

credit gain on loss of disposal

owner's equity statement

Issuing a bond adds a liability (bond to be paid) and cash as an asset. So, overall the company's b/s increases on both sides.

Yes, it will have less accounts than the trial balance.

an accounting change that should be reported by restating the financial statements of all prior periods presented.

An asset is something of value that is controlled by the businesses. You may have current assets (items that will be available for up to 12 months) such as cash or office supplies and you may have non-current assets (items that will be available for more than 12months) such as a car. (PS on some non-current assets you will also have to take into consideration the depreciation of the asset)

An expense is outflows that are incurred when used to generate revenue, such as wages, rent, advertising etc. these are all items that the business must pay for in order for them to generate revenue. for example: if running a cafe, if the business operators don't pay wages to their staff, then they will not have anyone to serve customers, which in turn leads them to lose revenue.

Hope this is what you were looking for :)

should revenue accounts begin each accounting period with zero balance

fixed assets turnover ratio

In accountancy, the concept of consistency refers to using the same accounting methods each year. This ensures that the financial statements for each year can easily be compared with each other.

A check

"If selling personnals have received the salary then it is selling expense but generally it is considered as administration expense."

Nonprofits are often concerned with distinguishing between program (direct) and administrative (indirect) expense. In general, salaries of program staff are considered a direct expense of that program. Salaries for administrative staff who don't have direct service functions are considered indirect. Some administrative staff may also do direct service and in that case, their salaries may be divided based on the proportion of direct and indirect work they complete.

I think I'd have to say that I disagree with any statement as vague and ungrammatical as that. I can't even tell what it's supposed to mean.

it explains SOURCES of funds and where in the balance sheet the funds were USED

Earning per share information is shown in income statement and not shown in balance sheet of business.

Gives a comparative cost of product related to time. Gives current expenditures and comparative basis to previous period costs.

• The central debtors system
• Credit terms for sales
• Period of credit
• How to have an invoice raised
• How to raise a credit note
• Recovery of debts
• Debts that are written off

According to BP web site, ex-divdend date is 2/9/11 and pay date is 3/28/11 for 42 cents per share of BP stock ADS ( U.S. ).

0.40. 0.35. 1.45. 2.44.

**ANSWER choices**

Operating income is the income generated by business with basic business activity that's why everybody interested in that amount more than anybody else.

Unqualified audited financial statement is set of financial statements which are audited by external financial auditors and found "True and fair view" of financial statements and clear from any fraud etc.

No, the purchase of a building is an expenditure (different from an expense) and therefore must be capitalized.

Contribution margin is the term used in marginal costing under which all unit costs are segregated as fixed cost and variable cost. It is generally assumed that any unit sold must atleast should recover it's variable cost in short term and after that any money earned by that unit is contributed towards recovering of fixed cost. So under breakeven analysis it is figured out by management that atleast how much units should be manufactured and sold to recover all it's fixed cost and start earning some profit.

for profit.........

do carried interest partners have any capital ownership on books