Which of the following will increase retained earnings on the retained earnings statement?
Which of the following will increase retained earnings on the retained earnings statement?
a. Net loss only
b. Dividends, net income
c. Net income only
d. Dividends, net loss
Homework Answers
Answer is option c - Net income only
Net income earned during the year is added to retained earnings and it increases the retained earnings on the retained earnings statement.
Option a is wrong as net loss reduces the retained earnings.
Option b is also wrong as dividends reduces the retained earnings and net income increases the retained earnings. Hence, this is completely correct.
Option d is also wrong as both dividends and net loss reduces the retained earnings.
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