Accounting II Chapter 12

  1. Profit & Loss = Income Statement
    • P/L or PNL or P&L = I/S or I/C Statement
    •      (checkbook)             = Bal Sheet or B/S
    •                                     = Net Worth
  2. Debit
    DR - B/S - increase
  3. Credit
    CR - P/L - decrease
  4. Accounting Formula 1
    (A)ssets = (L)iabilities + (OE)quity
  5. APIC
    Additional Paid-In Capital
  6. Balance Sheet
    Assets-Liabilities=Equity
  7. Income Statement
    Income-Expenses=Profit/Loss
Author
Anonymous
ID
266873
Card Set
Accounting II Chapter 12
Description
Terms and Structure for Capital
Updated