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    Monica1966's Avatar
    Monica1966 Posts: 29, Reputation: 1
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    #1

    Jul 26, 2011, 10:28 AM
    Balance sheet
    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's Avatar
    Just Looking Posts: 1,610, Reputation: 480
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    #2

    Jul 26, 2011, 11:06 AM

    It belongs in the Equity section of the Balance Sheet.
    Monica1966's Avatar
    Monica1966 Posts: 29, Reputation: 1
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    #3

    Jul 26, 2011, 12:05 PM
    Comment on Just Looking's post
    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's Avatar
    Just Looking Posts: 1,610, Reputation: 480
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    #4

    Jul 26, 2011, 12:21 PM

    Yes
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