The value of the owner's equity in the firm basically, assets less liabilities in a proprietorship, the proprietorship's capital account; in a partnership, the total of the partner's capital accounts; in a corporation, the total of capital stock, plus paid in capital, plus retained earnings.

The junior architect request cash to print a tarpaulin for a specific project. What do you call these expenses.

What happen to the company's asset, liabilities and owner's equity in the following scenario: The principal architect withdraws cash to purchase gaming chair for architectural firm

The cost to operate the firm, including salaries, rent, supplies, and so on, usually expressed as a monthly total

The junior architect requested cash for company's car fuel as he will visit 5 sites later. What do you call this expense?

The junior architect requested cash for company's car fuel as he will visit a project in Bukidnon. What do you call this expense?

Accounting method that recognizes revenue as having been earned when services are performed and that recognizes expenses when they are incurred without regard to when cash is received or disbursed.

The junior architect requested cash to purchase A3 sized paper for their presentation the next morning. What do you call this expense

Revenue remaining after direct and indirect expenses.

What happen to the company's asset, liabilities and owner's equity in the following scenario: The principal architect receives downpayment form client without presenting any plans or drawings.

Value generated by the firm's employee, excluding value attribute to consultations or to nonlabor project expenses for reproduction, travel and so on.

An engineer is paid for his consultations on a certain project. What do you call this expense?

Cost that can be charged to specific projects. Included are the cost of staff working on the project outside consultants and other cost associated with the project such as printing, travel and long distance communication.

What happen to the company's asset, liabilities and owner's equity in the following scenario: A new partner joins the company and puts 100,000 peso in cash as an investment.

What happens to the company's asset, liabilities and owner's equity in the following scenario: the contractor purchases equipment on an installment basis.

Expense items paid in operating the business that are not chargeable to specific project; collectivelv/often called overhead.

Accounting method that recognizes revenue when payment is received in cash and that recognizes when cash is disbursed.

What happen to the company's asset, liabilities and owner's equity in the following scenario: A withdrawal by owner at the end of the month ending December 2024.

The junior architect requested cash for company’s car fuel as he will visit a project in Bukidnon. What do you call this expense?

What happens to the company's asset, liabilities, and owners’ equity in the following scenario: The principal architect earns profit as a researcher for an institution.

Value of services contracted for but not yet earned

Which is not shown in the income statement?

Salaries and Benefits

Current liabilities in accrual accounting, representing the amount owed by the form to vendors, consultants or others for merchandise or services that have been provided to the firm

Statement of the firms’ financial condition as of specific date

Pricing for ownership transition

Which is not shown in the balance sheet?

Resource owned by the firm on which a monetary value can be placed

sources and application of money general

record-keeping of revenues reimbursable expenses, direct expenses, and direct personnel time

Determine if Asset, Liabilities, or Equity: Unearned Revenue

Value of the firm’s assets in excess of its liabilities; the total claims the owners would have to the value of the business if all assets were liquidated and all liabilities paid, as reflected on the firm’s balance sheet.

How do you treat the office draftman's salary in accounting?

Total value earned by the firm as a result of providing services or for aspects of the business not central to the primary purpose, such as rents, or royalties, including value provided by the firm’s consultants and owned to them

Profits remaining after expenses have been subtracted from revenues

Debts or obligations of the firm owed to others

Anyone with a financial interest in a form, whether as a sole proprietor, partner, or corporate shareholder

The basic operating financial statement showing the activity of the form for the accounting period specified, synonymous with profit and loss statement

Expenses exceeding revenue in an accounting period

Determine if Asset, Liabilities, or Equity: Salary Expense

Profit after corporate income taxes.

What is a method established to reflect the true financial performance of a firm during a specific period of time by matching revenue earned with expenses incurred.

Which financing option is typically used for starting a business?

What type of loan can be obtained from family or friends?

How do you treat the consultants' fee when running an architectural firm?

What is a common source for initial capital?

Determine if Asset, Liability or Equity: Investment by Owner

Which is not a source of capital?

Project related expenses that, by agreement with the client are to be directly reimbursed.

What happens to the company's asset, liabilities, and owners equity in the following scenario: The junior architect request cash to purchase A3 sized paper for their presentation the next morning.

How long is advised duration to convert account?

How do you treat the utilities expense in accounting?

Which is not a source of capital?

Which is not a consideration when preparing for a capital?

When the draftsman made use of the company's car to visit 3 project, how do you treat the expense in accounting?

Determine if Asset, Liabilities, or Equity: Accounts Receivable

Determine if Asset, Liabilities, or Equity: Notes Payable

When the draftsman made use of the company's car to visit his assigned project, how do you treat the expense in accounting?

Determine if Asset, Liabilities, or Equity: Equipment

Determine if Asset, Liabilities, or Equity: Cash