2.
Wages, rent,
etc. payables are the amounts owed to employees, landlord, etc. for services used
but not yet paid for.
3.
Notes payable are the amounts owed creditors usually with explicit interest expense.
4.
Dividends payable are owed to owners for dividends declared but not yet paid.
5.
Current portion of long-term debt is that portion of long-term debt that will be paid
within the year. Long-term liabilities are the amounts owed creditors that will not be
paid within one year.
Stockholders’ equity is the owners' investment and the total earnings retained from the
beginning of the business. Contributed capital (paid-in-capital) is the amount of the
stockholders' investment in the firm’s equity securities. Common stock is the portion of
stockholders' investment valued at par. Other paid-in-capital is the excess of the
shareholders’ investment over the stock’s par value. Retained earnings is the total net income
less the amount distributed to the owners as dividends from the beginning of business.
A classified balance sheet
A balance sheet can be presented in many different ways. A classified balance sheet is one
in which the accounts are ordered in some logical manner, such as by liquidity or maturity. In
a typical classified balance sheet:
1.
Assets are listed in order of liquidity, from most liquid to least liquid.
2.
Liabilities are listed in order of when they become due.
3.
Equity is generally presented with contributed or paid-in capital first and retained
earnings last.
b: Define each component of a multistep income statement and prepare a multistep income
statement.
A multi-step income statement is a statement that provides subtotals along the way to
providing net income. The basic structure of the income statement is: sales less cost of
goods sold equals gross margin (a.k.a. gross profit) less operating expenses equals Income
from operations (a.k.a. operating income) add or subtract other revenues and expenses
equals income before income taxes less income taxes equals net income.
找金融资料,就到一览金融文库