Description
AMP 415 Module 1 dq 1
For the one thing on a balance sheet I choose Owners Equity.
Owners’ equity
Sometimes this is referred to as stockholders’ equity. Owners’ equity is made up of the initial investment in the business as well as any retained earnings that are reinvested in the business.
Retreived from:
http://www.businesstown.com/accounting/basic-sheets.asp
The one account found on an income statement that I choose was Operating expenses.
Operating expenses – These include all other expenses that are not included in COGS but are related to the operation of the business during the specified accounting period. This account is most commonly referred to as “SG&A” (sales general and administrative) and includes expenses such as selling, marketing, administrative salaries, sales salaries, maintenance, administrative office expenses (rent, computers, accounting fees, legal fees), research and development (R&D), depreciation and amortization, etc.
Retrieved from:
http://www.investopedia.com/walkthrough/corporate-finance/2/financial-statements/income-statement.aspx