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Financial Statements

Identifying what goes on a financial statement

QuestionAnswer
What order do the financial statements go in? Income Statement Statement of Owner's Equity Balance Sheet Statement of Cash Flows
What info is on the Income Statement? Fees Expenses Net Income (Loss)
What info is on the statement of Owner's Equity? Capital -as of the 1st of the month Investments Net Income Increase in Owner's Equity Capital -as of the last day of the month
What info is on the Balance Sheet? Assets Liabilities Owner's Equity Capital -as of the last of the month
What is on the Statement of Cash Flows? Cash for operations Cash for investing -land, building, equipment Cash for investments by owner & withdrawals
Created by: dgrimm3
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