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Closing Journal Entries

acctaDecember 6, 2015November 30, 2018Financial Accounting Review

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  • Cost of Inventory
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  • Definitions of ratios
  • Financial Ratios Example II-B
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  • Financial Ratios Example I-A
  • Cash dividend
  • Common stock
  • Borrowings
  • Sale of noncurrent assets
  • Depreciation
  • Purchase of noncurrent assets
  • Unearned revenue
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  • Review of solvency ratios
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  • What are the financial statements prepared by an entity?
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  • How is the dividend payout ratio calculated?
  • Merchandise transactions
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  • How is the price earnings (P/E) ratio calculated?
  • How is the free cash flow calculated?
  • Treasury stock
  • Stock dividend
  • Cash dividend
  • How is the debt to cash flow ratio calculated?
  • How is the current debt to cash flow ratio calculated?
  • How is the cash flow return on assets calculated?
  • Issuance of common stock
  • Repayment of bonds payable
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  • How are ROE, ROA and the assets to equity ratio related?
  • How is the assets to equity ratio calculated?
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  • How is the debt to assets ratio calculated?
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  • Income taxes payable
  • Salaries payable
  • Notes payable
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  • How is the current ratio calculated?
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  • Sale of equipment
  • How is the accounts payable turnover ratio calculated?
  • How is the accounts receivable turnover ratio calculated?
  • How is the inventory turnover ratio calculated?
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  • Purchase of equipment
  • Allowance for doubtful accounts
  • How is the assets turnover ratio calculated?
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  • How is the earnings per share (EPS) calculated?
  • Notes receivable
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  • Prepaid expenses
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  • What does a journal entry look like when cash is paid?
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  • Where can users obtain financial information about entities?
  • What are the items reported on the statement of cash flows of an entity?
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  • Journal entry to record the collection of accounts receivable previously written-off
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  • Journal entry to record the purchase of merchandise
  • Journal entry to record the payment of rent
  • Journal entry to record the payment of salaries
  • Journal entry to record the purchase of equipment
  • Journal entry to record the investment by owner
  • List of updates to the codification topic 820
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  • Servicing Assets and Liabilities, ASC 860
  • Sale of Financial Assets, ASC 860
  • Subsequent Events, ASC 855
  • Nonmonetary Transactions, ASC 845
  • Sale-Leaseback Transactions, ASC 840
  • Capital Leases, ASC 840
  • Operating Leases, ASC 840
  • Leases, ASC 840
  • Imputation of Interest, ASC 835
  • Capitalization of Interest, ASC 835
  • Interest, ASC 835
  • Translation of Financial Statements, ASC 830
  • Foreign Currency Transactions, ASC 830
  • Foreign Currency Matters, ASC 830
  • Financial Instruments, ASC 825
  • Fair Value Measurements and Disclosures, ASC 820
  • Derivatives and Hedging, ASC 815
  • Consolidation, Variable Interest Entities, ASC 810
  • Consolidation, Noncontrolling Interests, ASC 810
  • Consolidation, ASC 810
  • Business Combinations, ASC 805
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  • Disposal of Property, Plant and Equipment
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  • Research and Development, ASC 730
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  • Inventory Analysis
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  • Gain Contingencies, ASC 450
  • Loss Contingencies, ASC 450
  • Contingencies, ASC 450
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  • Asset Retirement and Environmental Obligations, ASC 410
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  • Property, Plant and Equipment, ASC 360
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  • Internal-Use Software, ASC 350
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  • Equity Method, ASC 323
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  • Transfers of Securities: Between Categories, ASC 320
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  • Bank Reconciliation
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  • Earnings per Share, ASC 260
  • Accounting Changes and Error Corrections, ASC 250
  • Statement of Cash Flows, ASC 230
  • Income Statement, ASC 225
  • Income Statement, Extraordinary and Unusual Items, ASC 225
  • Comprehensive Income, ASC 220
  • Balance Sheet, ASC 210
  • Offsetting, ASC 210
  • Presentation of Financial Statements, ASC 205
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  • Classification of Liabilities
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  • Elements of Financial Statements
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  • Types of Business Activities
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