Question 1 what is retained earnings what items increase, Ask an Expert

Accounting

Question: 1. What is retained earnings? What items increase the balance in retained earnings? What items decrease the balance in retained earnings?

2. What is the basic accounting equation?

3. (a) Define the terms assets, liabilities, and stockholders' equity. (b) What items affect stockholders' equity?

4. Which of these items are liabilities of White Glove Cleaning Service?

(a) Cash.

(b) Accounts payable.

(d) Accounts receivable.

(e) Supplies.

(f) Equipment.

(g) Salaries and wages

(h) Service revenue.

(i) Rent expense.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92712781

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