Shared Flashcard Set

Details

Accounting Midterm 1
Accounting Midterm 1 University of Oregon
46
Accounting
Undergraduate 2
10/19/2009

Additional Accounting Flashcards

 


 

Cards

Term
Cash
Definition
Debit
Term
Accounts Receivable
Definition
Debit
Term
Supplies
Definition
Debit
Term
Prepaid Insurance
Definition
Debit
Term
Accumulated depreciation(various categories)
Definition
Credit
Term
Accounts Payable
Definition
Credit
Term
Dividends
Definition
Debit
Term
Salaries Payable
Definition
Credit
Term
Unearned consulting revenue
Definition
Credit
Term
Common stock
Definition
Credit
Term
Retained earnings
Definition
Credit
Term
Consulting revenue
Definition
Credit
Term
Rental Revenues
Definition
Credit
Term
Depreciation expense(various)
Definition
Debit
Term
Salaries expense
Definition
Debit
Term
Insurance expense
Definition
debit
Term
Insurance expense
Definition
Debit
Term
Rent expense
Definition
Debit
Term
Supplies expense
Definition
Debit
Term
Utilities Expense
Definition
Debit
Term
LIST: Financial statements
Definition
Income Statements, Statement of Retained earning, Balance Sheet
Term
PREPARE: Income Statement
Definition
revenues, Expenses, Total expenses, net income
Term
PREPARE: Retained Earnings
Definition
Retained earnings(1st of month), Plus: Net income, Less: cash dividends, Retained earnings )end of month)
Term
PREPARE: Balance Sheet
Definition
Assets, Liabilities, Equity
Term
Equation
Definition
A=L+OE
Term
Equity contains
Definition
Contributed Capital and Retained Earnings
Term
Retained Earnings contains
Definition
-Dividends+Revenues-expenses
Term
Contributed Capital=
Definition
Common Stock
Term
CLASSIFY: Cash
Definition
Asset
Term
CLASSIFY: Accounts Receivable
Definition
Asset
Term
CLASSIFY: Supplies
Definition
Asset
Term
CLASSIFY: Prepaid Insurance
Definition
Asset
Term
CLASSIFY: Equipment
Definition
Asset
Term
BALANCE SHEET: Equipment less...
Definition
Accumulated depreciation
Term
CLASSIFY: Accounts Payable
Definition
Liabilities
Term
CLASSIFY: Salaries Payable
Definition
Liabilities
Term
CLASSIFY: Common stock
Definition
Equity
Term
CLASSIFY: Retained earnings
Definition
Equity
Term
BALANCE SHEET: Two totals=
Definition
Assets=Liabilities+ Equity
Term
TITLE: Income Statement
Definition
Company Name, Income Statement, For Month Ended M/D/Y
Term
TITLE: Statement of Retained Earnings
Definition
Company name, Statement of Retained Earnings, For Month Ended M/D/Y
Term
TITLE: Balance Sheet
Definition
Company Name, Balance Sheet, End Date
Term
Four Reasons for Adjustment
Definition
Prepaid expenses, Unearned Revenues, Accrued expenses, Accrued Revenues
Term
Equipment
Definition
Debit
Term
CLASSIFY: Unearned consulting revenue
Definition
Liabilities
Term
CLASSIFY: Total liabilities
Definition
Liabilities
Supporting users have an ad free experience!