GB 518 RANK Let's Do This /gb518rank.com GB 518 RANK Let's Do This /gb518rank.com | Page 47

Cash
Office Equipment
Sales Salaries Payable
Dividends
Sales Salaries Expense
Question 7.
Question :
Net Income:
Decreases equity
Represents the amount of assets owners
put into a business
Equals assets minus liabilities
Is the excess of revenues over expenses
Represents the owners' claims against
assets
Question 8. Question :
information include:
Shareholders
Internal users of accounting