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To increase RE, depending on the account (e.g. Depreciation - Depr.) that caused or lead to the need to increase RE, you DEBIT Retained Earnings (RE).
RE XXX
Depr. XXX
Wiki User
∙ 13y ago
Wiki User
∙ 9y agodebit profit and loss account
credit retained earnings
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What is the journal entry if asset appreciates?
Debit Asset accountCredit retained earnings
Journal entry to reflect cash dividends from retained earnings?
The name for journal entries that reflect cash dividends from retained earnings is closing entries. This also reflects book value and cash flow.
What is the journal entry for receive a golden ring as gift?
debit golden ringcredit retained earnings
Journal entry to write off old outstanding checks?
Debit bankCredit retained earnings
What is the journal entry to write off goodwill?
Debit retained earnings / amortizationCredit goodwill account
What is the journal entry to record a donated asset?
Debit fixed assetsCredit donations / retained earnings
Are negative retained earnings included in balance sheet?
Retained earnings can become negative, creating a deficit. The retained earnings general ledger account is adjusted every time a journal entry is made to an expense or income account.
Journal entry to write off payroll outstanding checks?
Debit bank accountCredit retained earnings
What is the journal entry if a company received a donated truck?
debit truck accountcredit donation / retained earnings
What is the journal entry to write off patent?
debit retained earnings/cash / bankcredit patent account
What is the journal entry for car donated to business?
[Debit] Donated Car [Credit] Owner equity or retained earnings
What is the entry when releasing a net asset from temporarily restricted?
Release restricted funds by creating a journal entry which is a credit to the restriction account and a debit to retained earnings
