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PACE 161 exam Questions With complete Solutions| Download To pass
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what are assests - ️️resources controlled by company basic elements of balance sheet - ️️assests liabilities stockholder equity sole proprietorship - ️️1 person owning company partnership - ️️2 or more owners corporation - ️️separate entityfrom legeal and accounting perspective accounting equation - ️️A=L+SE how are debits and credits displayed - ️️DR on left and CR on right expenses - ️️all cost of doing business that are necessary to earn revenue purpose of retained earnings - ️️reports the way net income and distribution of dividends affect financial position retained earning formula - ️️beg RE + NI - DIVIDENDS=end RE
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