retained earnings an asset?
Retained earnings are non distributed profit part and hence a liability of the company to payback to the owners of company on case of dissolution that's why retained earning is liability and not the asset.
No! the asset revaluation reserve equal to the amount of depreciation charged during the year on the revalued asset should to be transaferred to the Retained Earning.
Yes
asset equity
Yes
Retained earnings are non distributed profit part and hence a liability of the company to payback to the owners of company on case of dissolution that's why retained earning is liability and not the asset.
[Debit] Donated Assets [Credit] Retained Earning / OE
No! the asset revaluation reserve equal to the amount of depreciation charged during the year on the revalued asset should to be transaferred to the Retained Earning.
Yes
asset equity
Net earning of the firms, included retained earning, dividend etc.
Yes
Stock buyback is one of the three types of appropriated retained earning accounts. Also, new product development and acquisitions are two other types of appropriated retained earning accounts.
Debit Asset accountCredit retained earnings
assets
Dividends in excess of retained earnings are not allowed by the IRS or CRA.
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