Chapter 2

We've already learned about assets, but now we're going to break it down a bit further and differentiate between current and non-current.

We've already learned about Assets, but now we're going to break it down a bit further and differentiate between current and non-current.

We've already learned about Liabilities, but now we're going to break it down a bit further and differentiate between current and non-current.

We've already learned about Liabilities, but now we're going to break it down a bit further and differentiate between current and non-current.

Shareholder's Equity is made up of two different components: Retained Earning and Contributed Capital. Here, we try to figure out what contributed capital is all about.

The Classified Balance Sheet lets us see our assets and liabilities by groups, which gives us a little better overview.

What is the Statement of Shareholder's Equity? Let's make it up together.

The Current Ratio is exceedingly simple, but quite helpful to businesses.

T-Acounts are the 30,000 ft. view of your accounts. They help you quickly glance at an account and see what is going on inside of it.

Debits and Credits are the words of accounting. You must understand debits and credits if you want to be able to pass this class.