Financial Accounting
What is the primary difference between revenue and income?
A company has a bond payable in 10 years. How should this liability be classified?
If a company purchases equipment worth \$50,000 by taking a loan, how does this transaction affect the fundamental accounting equation?
A company has \$100,000 in net income and pays \$20,000 in dividends. What are the retained earnings?
If a company issues new shares worth \$100,000, how does this transaction affect the fundamental accounting equation?
How do dividends affect retained earnings?
What is the fundamental accounting equation?
A company has \$300,000 in revenue and \$250,000 in expenses. What is the net income?
If a company finances its assets primarily through liabilities rather than equity, what is the likely implication for its financial structure?
A company has \$200,000 in net income and pays \$50,000 in dividends. What are the retained earnings?
