accounting∶thelanguageofbusiness(编辑修改稿)

accounting∶thelanguageofbusiness(编辑修改稿)内容摘要：

Securities and Exchange Commission) (10Q, 10K, and numerous other forms) and subsequently accessible from the SEC’s EDGAR system 169。 2020 Pearson Education Introduction to Financial Accounting, 10/e 9 of 35 LO 2 The Balance Sheet • The balance sheet (also called the statement of financial position) shows the financial status of a pany at a particular instant in time • Reflects the basic accounting equation, which is Assets = Liabilities + Owners’ equity Resources = Claims against those resources 169。 2020 Pearson Education Introduction to Financial Accounting, 10/e 10 of 35 LO 2 The Balance Sheet Assets – economic resources that the pany owns or controls from past transactions/events that it expects to help generate future benefits • Accounts – subdivision of the element Assets – Cash and cash equivalents – Accounts Receivable (Customer bought it on credit) – Inventories (Merchandise, Supplies, Parts) – Prepaid Expenses (taxes, utilities, insurance) – Property – Plant – Equipment Current Assets Longterm Assets 169。 2020 Pearson Education Introduction to Financial Accounting, 10/e 11 of 35 LO 2 The Balance Sheet Liabilities – economic obligations of the anization to outsiders from past transactions /events that it expects to pay in the future • Accounts – subdivision of the element Liabilities – Accounts Payable (We bought it on credit) – Notes Payable – Longterm debt 169。 2020 Pearson Education Introduction to Financial Accounting, 10/e 12 of 35 LO 2 The Balance Sheet Owners’ equity is the owners’ claim on the anization’s assets, ., assets minus liabilities • Accounts – subdivision of the element Equity – Sole Proprietorships XX Capital – Partnerships。