Dont sweat the petty things And dont pet

Don’t sweat the petty things. And don’t pet the sweaty things. Don’t be so open-minded that your brains fall out. Cheat Sheet v 4. 0. Good luck guys! – Derrick. X 1: liquidity, X 2: cumulative profitability that has been retained X 3: profitability, X 4: financial leverage, X 5: total asset turnover rate

EXAMPLE: Financial Stmt Prep. Paid a cash dividend of $35 during the year, properly recorded in August 2003. Entry for paying Dividends 35 Cash 35 Closing Dividend Account Retained Earnings 35 Dividends 35 Beginning retained earnings Net income (loss) – Dividends. = Ending retained earnings (1) Income Statement for the year ended 30 Sep 2003. (2) Retained Earnings for the year ended 30 Sep 2003. Given: Adjusted Trial Balance as of 30 Sep 2003 ASSETS: Cash, Marketable Securities, Accounts Receivable, Notes Receivable, Interest Receivable, Merchandise Inventory, Raw Material Inventory, Work-in-process Inventory, Finished Goods Inventory, Advance to Suppliers, Prepaid Rent, Prepaid Insurance, Investment on Securities, Land, PPE, Accumulated Depreciation, Leasehold, Patent, Goodwill LIABILITIES: Accounts Payable, Notes Payable, Interest Payable, Income Tax Payable, Advance from Customers, Advance from Tenants, Mortgage Payable, Bonds Payable, Convertible Bonds, Capitalized Lease Obligations, Deferred Income Taxes S. E. : Common Stock, Preferred Stock, Additional Paid in Capital, Retained Earnings, Treasury Shares Ending R. E. (– 245) = – 320 RE deficit + 75 Net Inc. Then work backwards to find Beginning RE. (3) Balance Sheet as of 30 Sep 2003.