Discussion Board

Anne Marie is the owner of Anne’s Beauty Salon, Inc.  Her accountant prepares a monthly financial statement for her business.  She doesn’t like to ask him questions about it.  She would rather ask you as you are her friend and since she knows that you are taking an accounting course, she asks you the following questions:

  1. What does net income mean on the income statement?  If I have enough cash at the end of the month then I assume I made money.  This concept of net income seems complicated.
  2. My accountant told me that the balance sheet shows assets = liabilities plus equity.  What does that mean?
  3. I don’t understand what the Statement of Retained Earnings is all about.  What is retained earnings?

How would you respond to each of these questions?

Don't use plagiarized sources. Get Your Custom Essay on
Discussion Board
Just from $13/Page
Order Essay
Calculate your order
Pages (275 words)
Standard price: $0.00
Client Reviews
4.9
Sitejabber
4.6
Trustpilot
4.8
Our Guarantees
100% Confidentiality
Information about customers is confidential and never disclosed to third parties.
Original Writing
We complete all papers from scratch. You can get a plagiarism report.
Timely Delivery
No missed deadlines – 97% of assignments are completed in time.
Money Back
If you're confident that a writer didn't follow your order details, ask for a refund.

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
$0.00
Power up Your Academic Success with the
Team of Professionals. We’ve Got Your Back.
Power up Your Study Success with Experts We’ve Got Your Back.
error: Content is protected !!
Live Chat+1(978) 822-0999EmailWhatsApp

Order your essay today and save 20% with the discount code GOODESSAY