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Accounting Study Guide |
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| CPAClass.com | GAAP | Study |
Balance Sheet
Financial Statements Overview |
| Components of Balance Sheet |
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Total Assets = Total
Liabilities + Total Stockholders' Equity --> Accounting Equation Total Assets = Current Assets + Investments + Property, Plant and Equipment + Intangible Assets + Other Non-Current Assets Total Liabilities = Current Liabilities + Long-Term Liabilities Total Stockholders' Equity = Contributed Capital + Retained Earnings - Treasury Stock = Common Stock + Preferred Stock + Additional Paid-in Capital + Retained Earnings - Treasury Stock Ending Retained Earnings = Beginning Retained Earnings + Net Income - Dividends Declared |
| Assets, Liabilities and Stockholders' Equity |
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Examples
of Asset Accounts
Examples
of Liability Accounts
Examples
of Stockholders' Equity Accounts
Components of
Financial Statements
Simplified
Examples of Balance Sheet |
| An Example of Detailed Balance Sheet |
Sample Technology Corporation |
Assets |
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| Current Assets | |||
| Cash | |||
| Marketable Securities | |||
| Accounts and Notes Receivable | |||
| Less: Allowance for Doubtful Accounts | |||
| Inventories | |||
| Other Current Assets | |||
| Total Current Assets | |||
| Investments | |||
| Long-Term Investments in Bonds | |||
| Property, Plant, and Equipment | |||
| Land | |||
| Buildings | |||
| Less: Accumulated Depreciation | |||
| Equipment | |||
| Less: Accumulated Depreciation | |||
| Total Property, Plant, and Equipment | |||
| Intangible Assets | |||
| Other Noncurrent Assets | |||
Total Assets |
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Liabilities and Stockholders' Equity |
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| Current Liabilities | |||
| Notes Payable | |||
| Accounts Payable | |||
| Income Taxes Payable | |||
| Accrued Expenses | |||
| Current Portion of Long-Term Debt | |||
| Total Current Liabilities | |||
| Long-Term Liabilities | |||
| Long-Term Notes Payable | |||
| Long-Term Borrowings | |||
| Bonds Payable | |||
| Deferred Income Tax Liabilities | |||
| Total Long-Term Liabilities | |||
Total Liabilities |
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| Contributed Capital | |||
| Preferred Stock, $5 par value
(authorized 10,000 shares, issued and outstanding 7,000 shares) |
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| Common Stock, $2 par value
(authorized 2,000,000 shares, issued 1,200,000 shares, outstanding 1,150,000 shares) |
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| Additional Paid-in Capital | |||
| Total Contributed Capital | |||
| Retained Earnings | |||
| Total Contributed Capital and Retained Earnings | |||
| Less: Treasury Stock, at cost (50,000 shares) | |||
| Total Stockholders' Equity | |||
| Total Liabilities and Stockholders' Equity |
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