Liabilites Study guides, Class notes & Summaries

Cash on Cash Multiple How much an investor receives in proceeds upon exiting the investment compared to its initial investment; it is not dependent on when the exit actually occurs Income Statement Presents the results from operations (profitability) over a period of time. Purpose is to show stakeholders whether the company made or lost money during the period being reported. Represents how revenues are transformed into Net Income. Brainpower Read More Previous Play Next R...

IFRS Test 2 Questions & Answers 2024/2025 a present economic resource controlled by the entity as a result of past events - ANSWERSIASB's defintion of an asset a right that has the potential to produce economic bneefits - ANSWERSeconomic resource a present obligation of the entity to transfer an economic resource as a result of past events - ANSWERSliability a liability occurs under IASB when: - ANSWERSno practical ability to avoid the transfer the obligation arises from past ev...

Parts to a Statement of Financial Position - ANSWER ☑☑Covers total assets, equities and liabilities ASSETS (A) 1. Non-current (revaluation) (not easily converted to cash within a year) 2. Current (inventories, cash, trade receivables, short term investments, pre-paid expenses) = Total assets (A) EQUITY AND LIABILITES (B) 1. Equity (share capital, reserves, retained earnings) =Total equity 3. Non-current liabilities (long-term borrowings/provisions) 4. Current liabilities (trade...

Accounting 2 – AAMI Latest Version 100% Correct Worksheet Form used to complete the net income or net loss and to plan the preparation of financial statements Journalizing Transactions Provide the figures needed to determine the results of operations and the financial position of the business Worksheet Form used to complete the net income or net loss and to plan the preparation of financial statements Journalizing Transactions Provide the figures needed to determine the resul...

Accounting 2 – AAMI Latest Version 100% Correct Worksheet Form used to complete the net income or net loss and to plan the preparation of financial statements Journalizing Transactions Provide the figures needed to determine the results of operations and the financial position of the business Worksheet Form used to complete the net income or net loss and to plan the preparation of financial statements Journalizing Transactions Provide the figures needed to determine the results of oper...

Accounting Equations UPDATED Actual Exam Questions and CORRECT Answers Assets Liabilites Equity Equation - CORRECT ANSWER- Assets = Liabilities + Equity Total Equity Equation - CORRECT ANSWER- Common Stock + Retained Earning Retained Earning Equation - CORRECT ANSWER- Beginning Retained Earning + Net Income -Dividends = Net Income Equation - CORRECT ANSWER- Revenues - Expense

Accounting 2 – AAMI Solved 100% Form used to complete the net income or net loss and to plan the preparation of financial statements -Correct Answer-Worksheet Provide the figures needed to determine the results of operations and the financial position of the business -Correct Answer-Journalizing Transactions Form used to complete the net income or net loss and to plan the preparation of financial statements -Correct Answer-Worksheet Provide the figures needed to determine the results...

Novak Corp. began the year with retained earnings of $669000. During the year the company recorded revenues of $577000, expenses of $375000, and paid dividends of $139500. What was Novak retained earnings at the end of the year? Ans: $731500 Retained earnings+revenue-expenses-dividends Wildhorse Co. began the year with retained earnings of $933000. During the year, the company issued $134000 of common stock, recorded expenses of $3616000, and paid dividends of $244000. If Wildhorse en...

NAB Finance Exam Review Questions and answers, rated A+ Process of Financial Management - -process of ensureing materials and other resources are bought and used efficiently and economically; attain goals. Value of Financial Management - -Administrator has informatio to make decision and manage facility. Control device - measure performance against original plans. Administrator's role in Financial Mangement - -owners hold administrator responsible for proper financial management of f...

NAB Finance 2023 Questions and Answers NAB Finance 2023 Questions and Answers Process of Financial Management process of ensureing materials and other resources are bought and used efficiently and economically; attain goals. Value of Financial Management Administrator has informatio to make decision and manage facility. Control device - measure performance against original plans. Administrator's role in Financial Mangement owners hold administrator responsible for proper financial ma...