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【正文】 those resources Economic Resources = Claims to Economic Resources Assets = Liabilities + Owners’ Equity or ? Assets are the economic resources of a business that are expected to be of benefit in the future ? Claims to assets e from – Liabilities ? Economic obligations debts payable to outsiders, called creditors –Owners’ equity (capital) ? Assets held by the owners of the business THE ACCOUNTING EQUATION ? For a corporation, stockholders’ (owners’) equity consists of two main categories – Paidin capital – Retained earnings THE ACCOUNTING EQUATION Assets = Liabilities + Stockholders’ Equity Assets = Liabilities + Paidin Capital + Retained Earnings or ? Paidin (contributed) capital is – The amount invested in the corporation by its owners – Comprised basically of mon stock THE ACCOUNTING EQUATION ? Retained earnings – Is the amount earned by ineproducing activities and kept for use in the business – Is affected by ? Revenues increases in retained earnings from delivering goods or services ? Expenses decreases in retained earnings that result from operations THE ACCOUNTING EQUATION ? Net ine ( earnings) – Total revenues exceed total expenses ? Net loss – Total expenses exceed total revenues ? Dividends – Distributions to stockholders (usually cash) generated by ine THE ACCOUNTING EQUATION Beginning Balance of Retained Earnings + = Net Ine (Loss) for the Period Dividends for the Period Ending Balance of Retained Earnings Revenues for the Period Expenses for the Period = COMPONENTS OF RETAINED EARNINGS Start of the Period End of the Period ? The owners’ equity of proprietorships and partnerships – Makes no distinction between paidin capital and retained earnings – Accounts for the equity of each owner under the single heading of Capital THE ACCOUNTING EQUATION INFORMATION REPORTED ON THE FINANCIAL STATEMENTS Ho w w e l l di d th ec o m pan y per f or mdur i n g th e pe r i od ? Rev enu es E x pens es Net i nc om e ( l os s )Inc om e s tate m ent( S tate m ent ofoperat i ons orS tat em ent ofear ni ngs )W hy d i d t hec o m pan y ’s r e tai ne dear ni ngs c han gedur i n g th e pe r i od ?B eg i nn i n g R. E .+ Net i nc om e ( l os s ) Div i de ndsE nd i ng .S tat em ent of r etai ne dear ni ngs ( S t atem entof s toc k hol der s ’equ i t y )W h at i s thec o m pan y ’s f in anc ialpos i t i on at t h e e nd o fthe p er i o d?A s s ets = L i a bi l i t i es + O w ner s ’ Eq ui t yB al anc e s h eet( S tate m ent off i nanc i a l p os i ti on)Ho w m uc h c as h di dthe c om pan ygenera te a nd s p enddur i n g th e pe r i od ?O per ati ng c as h f l o w s+ In v es t i ng c as h f l o w+ F i n anc i ng c as