Recitation for Lecture 001
Recitation for Lecture 001 ACCT 203
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This 1 page Study Guide was uploaded by Grayce Sawayn on Monday September 28, 2015. The Study Guide belongs to ACCT 203 at George Mason University taught by Constance Hylton in Fall. Since its upload, it has received 105 views. For similar materials see /class/215212/acct-203-george-mason-university in Accounting at George Mason University.
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Date Created: 09/28/15
STUDY GUIDE TEST ONE Chapter One Importance of Accounting Users of Accounting Information 7 internal users external users Financial Accounting Managerial Accounting Ethics GAA Principles of Accounting Transaction Analysis Assets Liabilities Equity If sole proprietorship Equity Accounts Capital Withdrawals Capital increased by Owner investments Net Income Capital Decreased by Owner withdrawals Net Loss If Corporation Two components to Stockholders Equity Contributed Capital Common Stock Retained Earnings Increased by Net Income Decreased by Net Loss Decreased by DiVidends Four Financial Statements Income Statement Calculate Net Income Statement of Owners Equity Balance Sheet Assets Liabilities Equity Statement of Cash Flows Chapter Two Analyzing and Recording Process Accounts Journal Ledger Asset Accounts Liability Accounts Equity Accounts Impact on equation
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