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The costs of providing goods and services to customers are referred to as: Assets. Expenses. Liabilities. Revenues. The accounts that represent the resources of the company are called: The owners' interest in a corporation is called: Use the following appropriate amounts to calculate net income: Revenues, $12,000; Liabilities, $5,000; Expenses, $4,000; Assets, $19,000; Dividends, $4,000.
Which of the following best describes revenue? Resources of a company. Amounts earned from providing goods and services to a customer. Cash received from a customer. Dividends paid to stockholders. The account type that represents payments to stockholders is called: The accounts that represent resources owed to creditors are called: Sooner Company has had a net income of $8,000, $5,000, $12,000, and $10,000 over the first four years of the company's existence. If the average annual amount of dividends paid over the last four years is $3,000 per year ($12,000 total over the last four years), what is the ending retained earnings balance?