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What the statement of retained earnings is all about

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Anne Marie, the owner of Anne's Beauty Salon continues to ask you questions about her financial statements.

Question 1: What is accounts receivable? Is it something good?

Question 2: See these things called current assets and current liabilities. What are they? Why show them?

Question 3: Still don't understand what the Statement of Retained Earnings is all about and why do need it. What is retained earnings? What is that thing called a dividend? Is it an expense?

Reference no: EM132587679

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