Answered: Accounting Question

Business

Accounting

Accounting Question

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Expert Solution

Step 1 introduction

Retained earnings:- Retained earnings is defined as the amount of net income which is kept under the business after paying the dividends to the shareholders. In other words we can say that, retained earnings are the part of profit which a company has earned on particular date, less any dividends or other distribution that is paid to the investors of company. Retained earnings are reported in the equity section of the company. These earnings are re invested into the business for future growth.