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Goods sold expense - PowerPoint PPT Presentation

Review of the Accounting Process

Review of the Accounting Process. Chapter 2. + Owner Investments. - Owner Withdrawals. + Revenues + Gains. - Expenses - Losses. The Accounting Equation. A = L + OE. Accounting Equation for a Corporation. A = L + SE. + Paid-in Capital. + Retained Earnings. + Revenues + Gains.

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ACCOUNTS

ACCOUNTS. WHERE SIMILAR TRANSACTIONS ARE GROUPED. ASSETS. CASH MARKETABLE SECURITIES ACCOUNTS RECEIVABLE INVENTORY PREPAID EXPENSES (SUPPLIES) EQUIPMENT BUILDING LAND. EXPENSES. RENT EXPENSE SALARY EXPENSE COST OF GOODS SOLD EXPENSE ETC. EXPENSE. DEBITS AND CREDITS.

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Goods sold expense - PowerPoint PPT Presentation

Review of the Accounting Process

ACCOUNTS