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    #1

    Apr 1, 2008, 10:39 AM
    Retained earnings
    What is retained earnings it is expenses item or liability item


    What is retained earnings & provison & will be account into the accounts
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    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Apr 4, 2008, 04:01 PM
    What is retained earnings it is expenses item or liability item
    Neither. It's equity. As in Assets = Liabilities + Equity. It's part of equity, part of the net worth. If you've already done sole proprietorships with a capital account, your stock and retained earnings accounts are replacing the capital account, but it's still equity.


    what is retained earnings & provison & will be account into the accounts
    I don't understand what you're asking because that's not a sentence.
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