Accounting Demystified phần 10 pptx

Glossary 159

Last-in, first-out BS 8

A method of accounting for inventory.

Leasehold BS Incr Decr 11

improvements

The cost of improvements made to property that the company

leases.

Liabilities BS Decr Incr 13

Amounts owed by the company.

Liquidity BS 2

A term that means nearness to cash; the closer an asset is to

becoming cash or a liability is to using cash, the more liquid

that asset or liability is.

Loans payable BS Decr Incr 15

Amounts that have been loaned to the company and that it

still owes.

Machinery BS Incr Decr 11

The cost of machinery owned by the company.

Net income IS 2

The last line of the Income Statement; it represents the

amount that the company earned during a specified period.

No par value stock BS 16

Stock issued by the company that does not have an arbitrary

value (par value) assigned to it.

Notes payable BS Decr Incr 15

Amounts owed by the company that have been formalized by

a legal document called a note.

Notes receivable BS Incr Decr 10

Amounts owed to the company that have been formalized by

a legal agreement called a note.

.......................... 10288$ GLOS 08-29-03 08:30:40 PS