Learning Objectives:

Define accounting terms related to financial statements for a merchandising business organized as a corporation.
Identify accounting concepts and practices related to financial statements for a merchandising business organized as a corporation.
Prepare an income statement for a merchandising business organized as a corporation.
Define accounting terms related to financial statements for a merchandising business organized as a corporation.
Identify accounting concepts and practices related to financial statements for a merchandising business organized as a corporation.
Analyze an income statement using component percentages and financial ratios.
Define accounting terms related to financial statements for a merchandising business organized as a corporation.
Identify accounting concepts and practices related to a financial statements for a merchandising business organized as a corporation.
Prepare a statement of stockholders’ equity for a merchandising business organized as a corporation.
Define accounting terms related to financial statements for a merchandising business organized as a corporation.
Identify accounting concepts and practices related to a financial statements for a merchandising business organized as a corporation.
Prepare a balance sheet for a merchandising business organized as a corporation.