Retained Earnings

Retained Earnings - October 2 2008 Retained earnings refers...

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October 2, 2008
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Retained earnings refers to the portion of net income which is retained by the corporation rather than distributed to its owners as dividends. http://en.wikipedia.org/wiki/Retained_earnings
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Beginning Retained Earnings + Net Income - Dividends = End Retained Earnings
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Begins with Beginning-of-the-year Retained Earnings, which is the prior year’s ending retained earnings reported on the balance sheet. The current year's Net Income reported on the income statement is added. The current year's Dividends are subtracted from this amount. The ending Retained Earnings amount is reported on the end-of-period balance sheet.
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STONE CULTURE CORPORATION Statement of Retained Earnings For the Year Ended December 31, 2006 Beginning Retained Earnings $21,000 Net income 45,000 Dividends 20,000 Ending retained earnings $46,000
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Indicate which Financial Statements are affected and how. 1) A company pays Utilities Expense on credit. 2) A company receives revenue from a customer who uses a gift card to pay.
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7 Statement of cash flows is a financial statement that shows a company's incoming and outgoing money during a specified time period.
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