If cash is $5450, accounts receivable is $10059,notes payable is $5285, common stock is $1161 how much is retained earnings?
If cash is $5450, accounts receivable is $10059,notes payable is $5285, common stock is $1161 how much is retained earnings?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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If cash is $5450,
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Retained earnings is the amount which is retained or kept by the entity out of the net profits rather than distributing it to the shareholders as dividend. It is shown under the equity head of the entity's balance sheet.
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