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Retained profit from previous year current asset or fixed asset?
Wiki User
∙ 12y ago
the retained profit looks like an umberella in a bannana shaped shirt. this means that the profit is skinless with eyes that bleed when you eat them with your Bridget Jones OI!! knickers on and interseted in the bones of time mean this can be a home for coping in the world of photocopiers which can be a soft smelly disease you talk 2 the vet about with your toe i hope this helps you thong song do the horse poo flick thanks
Wiki User
∙ 12y ago
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Retained earnings a asset or liability?
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.
What is retained earning an asset?
retained earnings an asset?
How depreciation influences balance sheet and profit and loss statement?
Profit and loss sheet - show the depreciation for the current year only as an expenseBalance sheet - show the cost price of the asset less any accumulated depreciation from previous years and less the depreciation for the current year.Hope this helps
Is net profit an asset or liability?
In a way profit could be considered an asset but its a stretch. Profit is term used to describe the earnings left over after you subtract the expenses related to the earning of that profit. The retained earnings would actually be the asset. The term profit is just a way to tell if your business is making money (or profitable) and doesn't really fall into the asset category. You will not see profits on a balance sheet rather you will see earnings.
Are retained earnings an asset equity or liability?
asset equity
Retained earnings a asset or liability?
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.
What is retained earning an asset?
retained earnings an asset?
How depreciation influences balance sheet and profit and loss statement?
Profit and loss sheet - show the depreciation for the current year only as an expenseBalance sheet - show the cost price of the asset less any accumulated depreciation from previous years and less the depreciation for the current year.Hope this helps
Is net profit an asset or liability?
In a way profit could be considered an asset but its a stretch. Profit is term used to describe the earnings left over after you subtract the expenses related to the earning of that profit. The retained earnings would actually be the asset. The term profit is just a way to tell if your business is making money (or profitable) and doesn't really fall into the asset category. You will not see profits on a balance sheet rather you will see earnings.
Are retained earnings an asset equity or liability?
asset equity
Do retained earnings show on a balance sheet?
Retained Earnings in BS. There are to terms in Finance Net profit and Retained Earnings. Net profit which is earned during the year from the business transactions. where the Retained earnings is carried over from the business over the period of time. which stays either asset or liability side of the balance sheet. Every year the Net profit/Loss is added to the Retained earnings account which is carried forward to the next year and Net profit account is become 0 at the end of the year.
Is return inward a current asset?
No, return inwards is not a current asset. It is sales returns and comes on the debit side of profit and loss account. otherwise, lessened from the sales on credit side
Is drawing account current asset?
An owner's draw account is not an asset account, but an equity account. It is grouped with other equity accounts, like the owner's investment, and retained earnings.
Is gold is fixed asset or current asset?
Current asset
What is the journal entry if asset appreciates?
Debit Asset accountCredit retained earnings
Are retained earnings an asset or liability?
assets
Is cafe a current asset or fixed asset?
Current asset.
