Statement of retained earnings explanation, format, example, formula
ContentExample #3 of Statements of Retained Earnings Being Used in PracticeResources created by teachers for teachersWhat is a retained earnings statement?v2 Principles of Accounting — Financial AccountingWhat does the statement of retained earnings show you? During the year Nova declared and paid a divided of $250,000 to its stockholders. On January 1, 2021, the company had 500,000 shares of $10 par value common stock and 50,000 shares of $100 par value preferred stock outstanding. The number of shares remained unchanged throughout the year as Nova did not make any new issue during 2021. Notice that the content of the statement starts with the beginning balance of retained earnings. The net income is added to and the net loss is subtracted from the beginning balance, any dividends declared during the period…
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