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by balance sheet under reserves and surplus heading otherwise in profit and loss appropriation a/c
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∙ 14y ago
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Is unappropriated retained earnings credit?
Yes, since this account (Retained Earnings) is a credit account and an uppropriate retained earnings account is simply a non-restricted account which is Retained Earnings !!! Even the restricted/ appropriate retained earnings are credited.
What are the reasons for not using retained earnings when starting a new business?
A new business has no retained earnings. Retained earnings are prior years earnings that have not been distributed to the shareholders... if it is a brand new business there is no possible way to have retained earnings at inception date.
Is retained earnings a current liability?
Retained Earnings is a Non-Current Liability
How is retained earnings calculated?
1. If dividend paid: Retained Earnings = Net profit - dividend if dividend not paid: Retained earnings = Net profit
Is retained earnings an asset?
No, retained earnings comes after Net Income on the Income Statement. The retained earnings is less than the Net Income if a dividend is paid out.
Is unappropriated retained earnings credit?
Yes, since this account (Retained Earnings) is a credit account and an uppropriate retained earnings account is simply a non-restricted account which is Retained Earnings !!! Even the restricted/ appropriate retained earnings are credited.
Which financial statement summarizes the changes in retained earnings?
Stetement of retained earnings summarizes the changes occured in retained earnings from opening balance to closing balance.
What are the reasons for not using retained earnings when starting a new business?
A new business has no retained earnings. Retained earnings are prior years earnings that have not been distributed to the shareholders... if it is a brand new business there is no possible way to have retained earnings at inception date.
Formulla for retained earnings?
retained earnings=profit after tax- dividend distribution
Is retained earnings a liability?
NO, the retained earnings would be in the equity part of the equation.
Is retained earnings a current liability?
Retained Earnings is a Non-Current Liability
What is the normal balance of retained earnings?
normal balance of retained earnings: credit.
Are dividends paid out of the current year's profits or from retained earnings?
From retained earnings.
What is a closed revenue and expense account to retained earnings called?
When you close the accounts, it totals into retained earnings, so in turn, it is essentially retained earnings.
How is retained earnings calculated?
1. If dividend paid: Retained Earnings = Net profit - dividend if dividend not paid: Retained earnings = Net profit
Is retained earnings an asset?
No, retained earnings comes after Net Income on the Income Statement. The retained earnings is less than the Net Income if a dividend is paid out.
Which account below is not a subdivision of retained earnings?
There are no accounts listed. Therefore, it is hard to determine which account is not a subdivision of retained earnings. Expenses are not a subdivision of retained earnings.
