Which one of the following equations represents the Statement of Retained Earnings activity?
Which one of the following equations represents the Statement of Retained Earnings activity?
a. Beginning retained earnings + cash inflows - cash outfiows = ending retained earnings
b. Beginning retained earnings + dividends - net income = ending retained earnings
c. Beginning retained earnings + net income - dividends = ending retained earnings
d. Beginning retained earnings + net income + dividends = ending retained earnings
Homework Answers
Answer is option c) Beginning Retained Earnings + Net Income - Dividends = Ending Retained Earnings
This is the only correct formula to calculate ending retained earnings.
We take Beginning Retained Earnings then add net profit (or deduct net loss) and then deduct dividends , the resulting figure is Ending Retained Earnings
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Which one of the following equations represents the Statement of Retained Earnings activity?
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