College Financial Accounting Help
Posted: August 30, 2005 8:19 pm
Whats up everybody... well the school year has started and I'm lost somewhere around page 2 yet again. We are doing Income Statments and Balance Sheets in my Financial Accounting class and the teacher needless to say sucks and I'm lost. Well I was wondering if you all could help me figure out which of these fall under the expense, revenue, assets collum so I can make these sheets. Anyhelp would be awesome.
Accounts payable $834 <-- expense?
Accounts Recievable 810 <---- revenue?
Building, net of accumulated depreciation 1,537 <--- definate asset
Cash 570 <---asset
Common Stock 900 <---not sure Stockholders equity?
Cost of Goods Sold 990 <--- expense
Current portion of long-term debt 450 <--- ?? Expense?
Depreciation Expense 335 <---expense
Dividends paid during year 325 <----expense
Equipment, net of accumulated depreciation 1200 <-----expense??
Income Tax Expense 135 <--- expense
Income Taxes payable 135 <-----??
Thanks!
Blue Skies!
Accounts payable $834 <-- expense?
Accounts Recievable 810 <---- revenue?
Building, net of accumulated depreciation 1,537 <--- definate asset
Cash 570 <---asset
Common Stock 900 <---not sure Stockholders equity?
Cost of Goods Sold 990 <--- expense
Current portion of long-term debt 450 <--- ?? Expense?
Depreciation Expense 335 <---expense
Dividends paid during year 325 <----expense
Equipment, net of accumulated depreciation 1200 <-----expense??
Income Tax Expense 135 <--- expense
Income Taxes payable 135 <-----??
Thanks!
Blue Skies!
