What are the elements of the contribution income statement?
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sales, total variable costs, contribution margin, total fixed costs and income
before taxes
What are the elements of the balance sheet?
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assets, liabilities and equity
inventory days equation
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365/inventory turnover
What would happen if a type IV adjustment was not made?
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assets N/A liabilities U shareholder's equity O net income O
Inventory
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(COGS/365)*# of Days outstanding
What is a type II adjustment?
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, a deferral, cash is distributed before expense is incurred
What is a part of the taxes payable budget?
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+ Beginning Taxes Payable
+ Income Tax Expense
_ Income Tax Payments
= Ending Taxes Payable
What are variable costs?
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Vary in total as activity varies, fixed per unit
accounts receivable days equation
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365/accounts receivable turnover
WACM formula
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, (CM*mix)/#
inventory days
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how many days it takes for inventory to turn over
What are equity financing activities?
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activities involving issuing stock to shareholders and paying dividends
return on assets simple equation
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operating income/average total assets
What does the slope of the total revenue graph represent?
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Give this one a try later!
sales, total variable costs, contribution margin, total fixed costs and income
before taxes
What are the elements of the balance sheet?
,Give this one a try later!
assets, liabilities and equity
inventory days equation
Give this one a try later!
365/inventory turnover
What would happen if a type IV adjustment was not made?
Give this one a try later!
assets N/A liabilities U shareholder's equity O net income O
Inventory
Give this one a try later!
(COGS/365)*# of Days outstanding
What is a type II adjustment?
Give this one a try later!
, a deferral, cash is distributed before expense is incurred
What is a part of the taxes payable budget?
Give this one a try later!
+ Beginning Taxes Payable
+ Income Tax Expense
_ Income Tax Payments
= Ending Taxes Payable
What are variable costs?
Give this one a try later!
Vary in total as activity varies, fixed per unit
accounts receivable days equation
Give this one a try later!
365/accounts receivable turnover
WACM formula
Give this one a try later!
, (CM*mix)/#
inventory days
Give this one a try later!
how many days it takes for inventory to turn over
What are equity financing activities?
Give this one a try later!
activities involving issuing stock to shareholders and paying dividends
return on assets simple equation
Give this one a try later!
operating income/average total assets
What does the slope of the total revenue graph represent?
Give this one a try later!
