Read e-book online Accounting for Non-Accountants, 2E: The Fast and Easy Way to PDF

By Wayne Label

ISBN-10: 1402222637

ISBN-13: 9781402222634

A short, Compact, and Easy-to comprehend source for Non-Accountants Accounting for Non-Accountants is the must-have consultant for we all who've by no means taken an accounting classification, are mystified via 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 an eye on your individual resources, you can find every little thing you must understand: easy methods to arrange and use monetary statements easy methods to deal with budgets easy methods to take care of audits and auditors tips on how to keep an eye on money flows tips to use accounting ratios to interpret monetary statements For marketers or a person who must rush up on accounting quickly, this ebook may have you up and working 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 someone who's discovering accounting tricky to understand." —Dr. Richard A. Samuelson, emeritus professor of accounting, San Diego country college  

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10,000 Total Assets . . . . . . . . . . . . . . . . $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 .

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. . . . . . . . . . $3,000 Current Portion of Mortgage Payable . . . 1,000 Total Short-Term Liabilities . . . . . . . . .

93,385 See Appendix C for an example of the Balance Sheet from a major corporation. 4, let’s examine the transactions that created it. Sam Invests Money in the Company (Owner’s Investment) First, let’s assume that on January 1, 2010, Sam invests $60,000 in her bicycle company. In other words, she takes $60,000 out of her 36 Accounting for Non-Accountants personal bank account and sets up a new account with the bank for the new business. 5: SOLANA BEACH BICYCLE COMPANY Balance Sheet January 1, 2010 Assets Liabilities & Owner’s Equity Short-Term Assets: Cash .

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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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