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ACC 111: Financial statements questions

Sep 29, 2021 | Business Finance - Accounting

Sep 29, 2021 | Business Finance - Accounting

ACC 111: Financial statements questions

Unit 2 Discussion
Anne Marie, the owner of Annes 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 dont understand what the      Statement of Retained Earnings is all about and why do I need it.       What has 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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