Accrual Accounting and Financial Statements
1. Define the classified balance sheet. Why is it useful for financial statement purposes? Expand on response
2. The return on equity is a very popular financial statistic. How does the DuPont equation/formula assist with analyzing it? Expand on response
3. Define adjusting entries. Provide two examples.
Introduction to Financial Accounting, 11/E, Charles T. Horngren, Stanford University, Gary L. Sundem, University of Washington, John A. Elliott, Baruch College, The City University of New York, Donna Philbrick, Portland State University, ISBN-10: 0133489361 | ISBN-13: 9780133489361 ©2014 • Prentice Hall • Cloth, 648 pp