Elements in a Financial Statement
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| currnet assets + Non-current assets | Total assets
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| Items that can quickly be converted to cash or that will be sold within 12 months Examples- cash on hand, checking and savings accounts,stocks,bonds and cash in value of life insurance, money others owe you, currnet non-depreciable inventory | Current Assets
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| Items that have a useful life of more than one year and are used in the business Examples- non-current, non-depreciable inventory, land | Non-Current Assets
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| Currnet liabilities(debts) + non-current liabilities(debts) | Total Liabilities
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| Accounts and notes payable, this years part of non-current liabilities | Current liabilities
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| Mortagages and other debts not due this year | Non-current liabilities
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| Total assets minus total liabilities | Net Worth or Owners Equity
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| Total liabilities/net worth | Debt-to-Equity Ratio
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
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Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
wmhill
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