ACC 111 D2

 Unit 2 Discussion

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

1. What is accounts receivable?  Is it something good? 
2. I see these things called current assets and current liabilities.  What are they?  Why show them? 
3. I still don’t 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?

Use file attach