ACCT 211 Study Guide - Final Guide: Petty Cash, Treasury Stock, Accrual
Document Summary
Corporations: advantages & disadvantages, authorized stock, issued stock, outstanding stock, recording stock sales (journal entry, dividend dates, stock dividends, stock splits, preferred stock (participating, cumulative, etc. , treasury stock, eps, dividend distributions (common and preferred shareholders) Calculating interest payments and expense: installment notes, debt-to-equity ratio. Statement of cash flows: operating, investing, financing, non-cash investing and financing, direct vs. Indirect method: cash flow on total assets ratio. Order of preparation: closing entries, inventory flow (relationship between beginning inventory, purchases, merchandise available for sale, ending inventory, and cost of goods sold, lifo, fifo, weighted. Averages, specific id: credit terms (ex: 2/10, n/30, bank statements & bank reconciliations, calculating depreciation, contingent liabilities, accounts. Temporary vs. permanent accounts in the closing process. Accumulated depreciation vs. depreciation expense: cost principle, matching principle, time period assumption, cash basis of accounting, accrual basis of accounting, fob shipping point, fob destination, fica, allowance method, direct write-off method, current vs. non-current (short-term vs. long-term)
