most of these should be expanded in depth on other pages.
asset equipment, furniture, buidings, cash, etc. (sub-classified as property, plant, equipment) equity amount of money returned to owners if all assets were sold, after paying all debts liability money owed (ex: payroll, debt)
gross whole amount without accounting for expenses (ex: refunds, returns, ..) net whole amount after subtracting expenses (ex: refunds, returns, ..)
Resources a company owns or controls (ex. equipment, machinery, furniture, cash etc.)
subclassified as property/plant/equipment.
goodwill assets acquisition for more than cost of identifiable-assets intangible assets copyrights, trademarks, etc. returns dividends, interest paid on an investment retained earnings net income retained by corp (not issued as dividends)
prev_period_retained + revenues - expenses - dividends
income/revenue profit from sales, service, interest on loan accounts receivable money owed (ex. rent, loan payments, deferred tax) accounts payable interest payable salaries payable property tax payable sales tax payable income tax payable