ACING FINANCIAL ACCOUNTING FOR MBA 510 MODULE 1-3
EXAM WITH THE LATEST A+ QUESTIONS AND ANSWERS STUDY
COMPANION.
Common stock
par value received from the original sale to investors
Preferred stock
value received from the original sale to investors; has fewer ownership rights compared
to common stock
Additional paid-in capital
amounts received from the original sale of stock to investors in excess of the par value
of stock
Treasury stock
amount the company paid to reacquire its common stock from shareholders
Retained earnings
accumulated net income (profit) that has not been distributed to stockholders as
dividends
Accumulated other comprehensive income or loss
accumulated changes in asset and liability fair values that are not reported in the
income statement
Operating expenses
the usual and customary costs that a company incurs to support its main business
activities
Cost of goods sold
Selling expenses
Depreciation expense, and
Research and development expense
Nonoperating expenses
relate to the company's financing and investing activities
, Interest expense
Interest or dividend income, and
Gains and losses from the sale of securities
Statement of Equity
a reconciliation of the beginning and ending balances of stockholders' equity accounts
Contributed capital
Retained earnings (including Other Comprehensive Income or OCI)
Treasury stock
Statement of cash flows
reports cash inflows and outflows
Cash flows are
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Cash flows from operating activities
—Cash flows from the company's transactions and events that relate to its operations.
Cash flows from investing activities
—Cash flows from acquisitions and divestitures of investments and long-term assets.
Cash flows from financing activities
—Cash flows from issuances of and payments toward borrowings and equity.
Prepaid expenses
Reflect advance cash payments that will ultimately become expenses.
Example of prepaid expense
The payment of radio advertising that will not be aired until sometime in the future.
Revenues that reflect cash received from customers before any services or
goods are provided are...
Unearned revenues
Example of unearned revenues
Cash received from patrons for tickets to an upcoming concert.
EXAM WITH THE LATEST A+ QUESTIONS AND ANSWERS STUDY
COMPANION.
Common stock
par value received from the original sale to investors
Preferred stock
value received from the original sale to investors; has fewer ownership rights compared
to common stock
Additional paid-in capital
amounts received from the original sale of stock to investors in excess of the par value
of stock
Treasury stock
amount the company paid to reacquire its common stock from shareholders
Retained earnings
accumulated net income (profit) that has not been distributed to stockholders as
dividends
Accumulated other comprehensive income or loss
accumulated changes in asset and liability fair values that are not reported in the
income statement
Operating expenses
the usual and customary costs that a company incurs to support its main business
activities
Cost of goods sold
Selling expenses
Depreciation expense, and
Research and development expense
Nonoperating expenses
relate to the company's financing and investing activities
, Interest expense
Interest or dividend income, and
Gains and losses from the sale of securities
Statement of Equity
a reconciliation of the beginning and ending balances of stockholders' equity accounts
Contributed capital
Retained earnings (including Other Comprehensive Income or OCI)
Treasury stock
Statement of cash flows
reports cash inflows and outflows
Cash flows are
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Cash flows from operating activities
—Cash flows from the company's transactions and events that relate to its operations.
Cash flows from investing activities
—Cash flows from acquisitions and divestitures of investments and long-term assets.
Cash flows from financing activities
—Cash flows from issuances of and payments toward borrowings and equity.
Prepaid expenses
Reflect advance cash payments that will ultimately become expenses.
Example of prepaid expense
The payment of radio advertising that will not be aired until sometime in the future.
Revenues that reflect cash received from customers before any services or
goods are provided are...
Unearned revenues
Example of unearned revenues
Cash received from patrons for tickets to an upcoming concert.
