Parrish 1-3 #1Please find RE 12/31 This is the THIRD time I have had to ask this question! I need the written equation to find this amount. I do not want it put in a table format. What is the equation. Also, what if there is a Net Loss, is that subtracted from RE 1/1? I have had to ask this question three times already. The first time the answer was not clear and the equation was not given in a way that the average person could understand. The second time I was given the wrong equation. Revenues $6000Dividends Declared $1000Expenses $3000RE 1/1 $5000RE 12/231 $UNKNOWN
Parrish 1-3 #1
Please find RE 12/31
This is the THIRD time I have had to ask this question! I need the written equation to find this amount. I do not want it put in a table format. What is the equation.
Also, what if there is a Net Loss, is that subtracted from RE 1/1? I have had to ask this question three times already. The first time the answer was not clear and the equation was not given in a way that the average person could understand. The second time I was given the wrong equation.
Revenues $6000
Dividends Declared $1000
Expenses $3000
RE 1/1 $5000
RE 12/231 $UNKNOWN
The amount of net profit which a business retains with itself for some purpose is called retained earnings. This amount can be used by business for maintaining future dividend payments and for some other reasons.
Retained earnings on 31 December is calculated as follows:
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