Chapter 1, Problem 1.4BE

To determine

Introduction:

Expenses: Expenses are the costs that companies spend to produce and sell the goods and services to the customers or clients.

Revenues: Revenues are the income or earnings that a company receives for delivery of goods and services.

Stockholders’ equity: Stockholders’ equity is an owners’ claim to the assets of the company.

To Determine: The effects of given transactions on the stockholders’ equity.

To determine

To Provide: Titles for the revenue and expenses.