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Statements
Accounting Statements
Question | Answer |
---|---|
Income Statement | Revenues-Expenses=Net Income ie. Sales Revenue, Rent Expense, Wages Expense, Utilities Expense |
Statement of Owners Equity | Beginning owners equity + Additional investments + Net income (or -net loss)-Withdrawals |
Balance Sheet | Asset = Liabilities + Owners Equity |
Statement of Cash Flows | +-Cash flows from Operating Activities +-Cash flows from Investing Activities +-Cash flows from Financing Activities Equals change in cash + Beginning balance Equals ending cash balance |