Question: Many concepts are repeated from earlier chapters. Examples include: Where do you look to find dividends declared? What makes up stockholders equity? How do you

Many concepts are repeated from earlier chapters. Examples include: Where do you look to find dividends declared? What makes up stockholders equity? How do you calculate earnings per share? What is GAAP and who creates GAAP? Can you identify various types of accounts? Can you identify what is reported on each financial statement?

What are deferred expenses? Give examples

What is accumulated depreciation?

What are deferred Revenues? Give examples

What are accrued expenses/accrued liabilities? Give examples

What are accrued revenues? Give examples

How do these adjusting entries impact net income? Total assets? Total liabilities?

What are permanent (real) accounts? What are temporary (nominal) accounts?

Calculate earnings per share. Where are EPS disclosed?

How does Net income (loss) affect ending retained earnings?

What is an unadjusted trial balance, an adjusted trial balance, a post closing trial balance?

What is the purpose of closing entries? What accounts are closed?

What is the objective of the external audit of a companys financial statements?

Calculate Total Asset Turnover ratio = Net sales/ average total assets, page 199 - Whats it measure?

Calculate Net profit margin ratio

Calculate Gross profit ratio

Calculate Return on Assets = Net income/average total assets, page 255 Whats it measure?

Know the formula for the multiple-step income statement. Be able to calculate various subtotals.

What is a Statement of Stockholders Equity? How do the components of Stockholders Equity change?

What dates are on each financial statement?

Whats the difference between adjusted trial balance and unadjusted trial balance?

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