What is retained earnings

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Reference no: EM1369526

Q. What is purpose of statement of cash flows?
1. What are three main categories of statement of cash flows? Why do you think these categories were chosen?

2. What is retained earnings? What items increase balance in retained earnings? What items decrease balance in retained earnings?

3. What is basic accounting equation?

4. (a) Define terms assets, liabilities and stockholders' equity.

(b) What items affect stockholders' equity?

5. Which of these items are liabilities of Kool-Jewelry Stores?

Reference no: EM1369526

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