PDA

View Full Version : Balance sheet


Monica1966
Jul 26, 2011, 10:28 AM
If you have retained earings 11,920 (credit)
And dividends 9,000 (debit)
Would that be on long term liabilities on balance sheet
Or just on the retained Earnings statement

Just Looking
Jul 26, 2011, 11:06 AM
It belongs in the Equity section of the Balance Sheet.

Monica1966
Jul 26, 2011, 12:05 PM
It also goes in retained earnings correct?
So it would go for example
Retained Earings 11,920
Add net income 9,645
Deduct
Dividends 9,000
Retained earings 12,565
Is that correct?

Just Looking
Jul 26, 2011, 12:21 PM
Yes