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.
Assets are increased with a debit and decreased by a credit. Retained earnings is a credit, as they are an owners equity account and increase with credit.Retained earnings is what a company has after all expenses and dividends (if applicable) are paid. Retained earnings is shown on the Statement of Retained Earnings and is a credit which increases OE.
Retained earnings are retained on the balance sheet after being earned and taxed. To distribute them to shareholders, they would be dividended, which is not deductible and done with after tax money to the company, and is taxable to the recepient.
The retained earnings account usually carries a credit balance.
Retained Earnings normally has a credit balance. Net loss will be debited to Retained Earnings account thus results to a debit balance. Retained Earnings with a debit balance will be called as 'Deficits" or "Accumulated Deficits".
purchase a/c
Net earning of the firms, included retained earning, dividend etc.
Assets are increased with a debit and decreased by a credit. Retained earnings is a credit, as they are an owners equity account and increase with credit.Retained earnings is what a company has after all expenses and dividends (if applicable) are paid. Retained earnings is shown on the Statement of Retained Earnings and is a credit which increases OE.
Retained earnings are retained on the balance sheet after being earned and taxed. To distribute them to shareholders, they would be dividended, which is not deductible and done with after tax money to the company, and is taxable to the recepient.
normal balance of retained earnings: credit.
The retained earnings account usually carries a credit balance.
Retained Earnings normally has a credit balance. Net loss will be debited to Retained Earnings account thus results to a debit balance. Retained Earnings with a debit balance will be called as 'Deficits" or "Accumulated Deficits".
purchase a/c
debit
yes
Retained earnings are the profit of previous fiscal years and liability of business to return back to it's owner so it has a credit balance as of all liability accounts.
Retained earnings are not classified as a debit; they are recorded as a credit in the equity section of the balance sheet. Retained earnings represent the cumulative profits that a company has reinvested in the business rather than distributed as dividends. While the account itself has a credit balance, it can be reduced by net losses or dividend payments, which would be recorded as debits.
Stetement of retained earnings summarizes the changes occured in retained earnings from opening balance to closing balance.