Accounting

Using Financial Statements Keith Abbott, Shane Baller, Michael Billingsley and Mary Hoffman University of Phoenix Flexnet ACC 300 6/9/2009 Using Financial Statements Using the pecuniary instructions of Landrys Restaurants ( ), police squad c testament readiness atomic number 18 a paper mantle net income, tote up assets, property and equipment expenditures, and pains of confidence options. sugar Income Net income is the amount of income a social club has subsequently their expenses are subtracted from the total revenue. The net income shadower be held by the company as retained earnings or can be distributed to the stock holders through dividends. Quite often, net income is referred to as the bottom line; it is appoint at the end of the companys income statement and thus, gets its name. The net income for Landrys Restaurant is $300,000. The comp binglents of the monetary statement where one finds the net income are each of the expenses such(prenominal) as minority interest and stock dividends. The revenue: cost of goods sold, sales discount, sales returns will also be found on the financial statement. After subtracting the expenses from the revenue you will lay the net income of the company. heart Assets Total assets are defined as the physical items that a business owns including money, receivables, investments, buildings, equipment, and inventory to name a few. Current assets are assets that either are cash at one time or will become cash within the abutting 12 months. placed assets are items owned for the purpose of producing income, rough examples are buildings, vehicles, equipment, furniture, and computers. opposite assets are items owned that do no fit in the above two categories, some examples would be patents, copyrights, and utility deposits. (Arkansas miserable Business and Technolog y Development Center, 2008). In t! his instance the total assets of Landrys Restaurants are taken from the isotropy sheet. Listing them in the order on the balance sheet...If you command to get a full essay, order it on our website: BestEssayCheap.com

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