New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Accounting 255 Class 2 Notes

by: Haley Morse

Accounting 255 Class 2 Notes ACC 255

Marketplace > Northern Arizona University > Accounting > ACC 255 > Accounting 255 Class 2 Notes
Haley Morse

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

These notes cover in class and texbook material. These notes focus on Learning objective 2 of Chapter 1
Principles of Accounting: Financial
Craig Bain
Class Notes
Accounting, financial accounting, finance
25 ?




Popular in Principles of Accounting: Financial

Popular in Accounting

This 2 page Class Notes was uploaded by Haley Morse on Thursday September 1, 2016. The Class Notes belongs to ACC 255 at Northern Arizona University taught by Craig Bain in Fall 2016. Since its upload, it has received 31 views. For similar materials see Principles of Accounting: Financial in Accounting at Northern Arizona University.


Reviews for Accounting 255 Class 2 Notes


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 09/01/16
Class 2 Learning Objective 2: All businesses involve 3 types of activity 1. Financing 2. Investing 3. Operating Financing Activities: 2 primary sources of outside funds for corporations 1. Borrowing money (debt financing) 2. Issuing Shares if stock in exchange for cash (Equity financing) Liabilities: The amount owed to creditors in form of debt or obligations Common Stock: used to describe the total amount paid in by stockholders for the shares they purchase Dividends: Payments corporations make to stockholders on a regular basis Investing Activities: Once a company has raised cash through financing activities, it uses this cash in investing activities, including purchasing what the company needs to operate *”Investing in ourself!” –Dr. Bain’s actual words Assets: resources the company purchases to grow. Example: Delivery trucks, computers, furniture, buildings Cash: One of the most important assets owned by a business. If a business has excess cash, it may choose to invest in securities of other corporations Securities: Stocks or Bonds Investments: another example of an investing activity Operating Activities: Once a business has the assets needed to get started, it begins operations Revenues: The increase in assets or decrease in liabilities from the sale of goods or the performance of services in the normal course of business Supplies: Assets used in day-to-day operations Inventory: Goods available for future sales to customers Expenses: Costs of assets consumes or services used in the process of generating revenue Ex: purchasing needed goods, paying salaries Accounts receivable: Right to receive Money from a customer as a result of a sale Liabilities: Arising from expenses including accounts payable, interest payable, wages payable, sales taxes payable Net Income: Revenues exceed expenses Net Loss: Expenses exceed revenues Class 2


Buy Material

Are you sure you want to buy this material for

25 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Janice Dongeun University of Washington

"I used the money I made selling my notes & study guides to pay for spring break in Olympia, Washington...which was Sweet!"

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."


"Their 'Elite Notetakers' are making over $1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.