New PDF release: Accounting for Non-Accountants, 2E: The Fast and Easy Way to

By Wayne Label

ISBN-10: 1402222637

ISBN-13: 9781402222634

A brief, Compact, and Easy-to comprehend source for Non-Accountants Accounting for Non-Accountants is the must-have advisor for we all who've by no means taken an accounting type, are mystified by means of accounting jargon, and feature no clue approximately stability sheets, source of revenue statements, or statements of money flows. no matter if you personal a enterprise, plan on beginning one, or simply are looking to keep watch over your personal resources, you will discover every thing you want to comprehend: the way to arrange and use monetary statements tips on how to deal with budgets easy methods to care for audits and auditors find out how to regulate money flows tips on how to use accounting ratios to interpret monetary statements For marketers or somebody who must rush up on accounting quickly, this ebook may have you up and operating very quickly. "A certain must-have for any enterprise owner!" —Julie A. Aydlott, CFE, writer of the fast consultant to Small enterprise Budgeting "A good selection for a person who's discovering accounting tricky to understand." —Dr. Richard A. Samuelson, emeritus professor of accounting, San Diego kingdom college  

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Extra resources for Accounting for Non-Accountants, 2E: The Fast and Easy Way to Learn the Basics

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50,385 The Balance Sheet and Its Components 35 Long-Term Assets: Truck. . . . . . . . . . . . . . . . . . . $8,000 Building. . . . . . . . . . . . . . . . . . 25,000 Land . . . . . . . . . . . . . . . . . . . 10,000 Total Long-Term Assets. . . . . . . . . . . . . $43,000 Total Assets . . . . . . . . . . . . . . . . $93,385 Liabilities and Owner’s Equity Short-Term Liabilities: Accounts Payable.

93,385 Liabilities And Owner’s Equity Liabilities: Accounts Payable . . . . . . . . . $3,000 Mortgage Payable . . . . . . . . . 20,000 Total Liabilities . . . . . . . . . . . . . . . $23,000 Owner’s Equity: Owner’s Investment . . . . . . . . $60,000 Retained Earnings . . . . . . . . . 10,385 Total Owner’s Equity . . . . . . . . . . . . . $70,385 Total Liabilities & Owner’s Equity . . . . . . . . . $93,385 By looking at the bicycle company’s Balance Sheet, you can see that there are several Assets belonging to the company that together are valued at $93,385.

25,000 Land . . . . . . 10,000 Total Long-Term Assets . . . . . $43,000 Total Assets . . . $80,000 Total Liabilities and Owner’s Equity . 7 the only change in the Balance Sheet after the purchase of the insurance is that one Asset (cash) has been exchanged for another Asset (Prepaid Insurance, between Short- and Long-Term Assets) for the exact amount of $1,500. Sam Orders and Buys Bicycles (Short-Term Assets) On January 5, Sam orders and buys two different brands of bicycles from two different companies.

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Accounting for Non-Accountants, 2E: The Fast and Easy Way to Learn the Basics by Wayne Label


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