MGMT 30A Lecture Notes - Lecture 2: Retained Earnings, Accounts Payable, Promissory Note
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MGMT 30A Full Course Notes
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Identify the sections of a classified balance sheet. Use (cid:396)atios to evaluate a (cid:272)o(cid:373)pa(cid:374)y"s p(cid:396)ofita(cid:271)ility, li(cid:395)uidity, a(cid:374)d solve(cid:374)(cid:272)y. Presents a snapshot at a point in time. To improve understanding, companies group similar assets and similar liabilities together. Investments in stocks and bonds of other corporations that are held for more than one year: long-term assets such as land or buildings that a company is not currently using in its operating activities, long-term notes receivable. Property, plant and equipment: long useful lives, currently used in operations. Includes land, buildings, equipment, delivery vehicles, and furniture: depreciation allocation the cost of assets to a number of years, accumulated depreciation total amount of depreciation expensed thus fa(cid:396) i(cid:374) the asset"s life. Intangible assets: assets that do not have physical substance. Includes goodwill, patents, copyrights, and trademarks or trade names. Long-term liabilities: obligations a company expects to pay after one year. Includes bonds payable, mortgages payable, long-term notes payable, lease liabilities, and pension liabilities.
