Chapter4Accounting Cycle(Il)Preparing the Financial Statements from theAdjusted Trial BalanceClosing the AccountsClassification of Assets and LiabilitiesTwoAccountingRatios
Chapter 4 Accounting Cycle(Ⅲ) Preparing the Financial Statements from the Adjusted Trial Balance Closing the Accounts Classification of Assets and Liabilities Two Accounting Ratios
Preparing the FinancialStatements
Preparing the Financial Statements
The Financial StatementsThe financial statements are a pictureofthe company in financial terms.Each financial statement relates to a specificdate or covers aparticular peniod
Information Reported on theFinancial StatementsFinanciadStatementAnswerOuestionl.How well did theRevenuesIncomecompany perform-Expenses(oroperate)duringstatementNet income(Net bss)theperiod?Statement2.Whydid the comp any'sBeg retained earingsofretaimed earrings+Netincome(or-Netloss)retainedchange during theEnding retained earningsPeriod?earnings
Information Reported on theFinancial StatementsFinanciadStatementAnswerOuestionAssets3.Whatisthe company'sBalance=Liabilitiesfinancialposition at thesheet+ Ow ners' equityend of theperiod?4.How much cashdidStatementOperating cashflowsofthe company generate± Investing cash flowscash+Financing cash flowsand spend duringfhwsthe period?ncreaseordecreaseincash