Question: What is typically included on each statement? Why do the statements appear in the following order? Income Statement Retained Earnings Statement Balance Sheet Cash Flow

  • What is typically included on each statement?
  • Why do the statements appear in the following order?
    • Income Statement
    • Retained Earnings Statement
    • Balance Sheet
    • Cash Flow Statement

**************SHORT ANSWERS FRO BOTH PLEASE*************

Explain the difference between debt and equity:

  • What is the definition of debt and equity (what are some examples of liability accounts and equity accounts)?
  • What are two examples of debt transactions for a retail corporation?
  • What are two examples of equity transactions for a retail corporation?
  • What are some reasons why a corporation would obtain cash from borrowed funds from a bank versus cash from selling stock to shareholders?

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