13. What is retained earnings? What items increase the balance in retained earnings? What items decrease the balance in retained earnings?

14. What is the basic accounting equation?

15. (a) Define the terms assets, liabilities, and stockholders equity. (b) What items affect stockholders equity?

16. Which of these items are liabilities of White Glove Cleaning Service? (a) Cash. (f) Equipment. (b) Accounts payable. (g) Salaries and wages (c) Dividends. payable. (d) Accounts receivable. (h) Service revenue. (e) Supplies. (i) Rent expense.