Retained earnings

anikahall · #1 Oct 3, 2007, 08:21 AM

Please help me with this question!!!!
The problems is that after the books have been closed a review was done which revealed some other information. Any way my question is do retained earnings care a debt or credit balance?

CaptainForest · Oct 3, 2007, 05:17 PM

They usually carry a credit balance.

If they have a debit balance, you are in HUGE trouble financially.



At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to: Get free answers from experts in any of our 300+ topics. Accept money for answers that you provide. Communicate privately with other members (PM). See fewer ads. Sign Up!