ACC111 Unit 2 Discussion
Question # 00801048
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Updated on: 04/05/2021 11:47 AM Due on: 04/05/2021
Unit 2 Discussion (ACC111)
Unit 2 DiscussionAnne Marie, the owner of Anne’s Beauty Salon continues to ask you questions about her financial statements.
- What is accounts receivable? Is it something good?
- I see these things called current assets and current liabilities. What are they? Why show them?
- I still don’t understand what the Statement of Retained Earnings is all about and why do I need it. What is retained earnings? What is that thing called a dividend? Is it an expense?
How would you respond to each of these questions?
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Solution: ACC111 Unit 2 Discussion