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Journal entries recorded at the end of each accounting period to prepare the revenue,expense, and withdrawals accounts for the upcoming year and to update the owner's capital account for the events of the year just finished are:
Consolidated Balance Sheet
A financial statement showing the total assets, liabilities, and shareholders' equity of a parent company and its subsidiaries as if they were a single entity.
Acquisition Differential
The difference between the cost of acquiring a company and the fair value of its identifiable net assets.
Equity Method
An accounting technique used to record the investments in other companies, where the investment is significant but the investor does not have full control.
Patent
A legal right granted to an inventor for an exclusive period, typically 20 years, to exploit a new, useful, and non-obvious invention.
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