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Accounting Basics

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Finance - Personal Finance

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jake12testoswi Created by 10 mon ago

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Cards in this deck(25)
assets=liabilities+equity
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asset
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asset
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asset
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asset
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asset
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liability
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liability
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liability
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equity
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equity
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equity
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revenue-expenses= net income/loss
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assets, liabilities, equity
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beginning retained earnings+net income+common stock-dividends
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cost-salvage value/total units of production
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deprecation rate- 100%/useful life= 100%/5= x% *2
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current assets/current liabilities
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current assets-current liabilities
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cash+short term investments+current receivables /current liabilities
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net sales/ average accounts receivable
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cost of goods sold/average inventory
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accounts receivable/net sales * 365
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ending inventory/cost of goods sold *365
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net income/net sales
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