Elements in a Financial Statement
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| currnet assets + Non-current assets | show 🗑
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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 | show 🗑
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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 | show 🗑
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| Currnet liabilities(debts) + non-current liabilities(debts) | show 🗑
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| Accounts and notes payable, this years part of non-current liabilities | show 🗑
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| Mortagages and other debts not due this year | show 🗑
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| show | Net Worth or Owners Equity
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| Total liabilities/net worth | show 🗑
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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.
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.
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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