Get Retained Earnings T Account Example
PNG. Let's assume anand group of companies have shown following details as per its financials for the year ltd. Retained earnings is the portion of net income that a company does not distribute among its shareholders but retains in the business for various purposes such as growth of business in future and meeting the debt obligations etc.
Opening balance = closing balance of the previous year + retained earnings from the p+l accounts.
Opening balance = closing balance of the previous year + retained earnings from the p+l accounts. These are the retained earnings that have carried over from the previous accounting. For example, a loan contract may state that part of a corporation's $100,000 of retained earnings is not. Enter transaction code spro in the command field.
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