1. What financial statement uses net income (or net loss) taken directly from the income statement?

2. What financial statement shows total assets equals total liabilities plus total owner’s equity?

3. What financial statement takes total revenue minus total expenses?

4. What order to do you do the financial statements?

5. Examples of Asset

6. Examples of Liabilities

7. Examples of Owner’s Equity accounts

8. Normal Debit Balances

9. Normal Credit Balances

10. Accrued Expense