GL - What you meant Retained Earnings? When the Entries are created and what is the entry?

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What you meant Retained Earnings? When the Entries are created and what is the entry?

Total Answers and Comments: 4

Last Update: July 13, 2009 Asked by: K.Senthil Kumar

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May 23, 2007 05:29:36

Nidhi

RE: What you meant Retained Earnings? When the Entries...

Retained Earnings is basically a account which receives balances when tear end closing is done . It refers to the earnings (can be profit or loss) of an organisation during a financila year

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September 28, 2007 07:59:22

Spice

Member Since: September 2007 Contribution: 6

RE: What you meant Retained Earnings? When the Entries...

Retained earnings is one of the mandatory accounts go be given when opening SOB. This is usually the 'undistibuted profit' of the shareholders. It can be a loss too ofcourse.

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January 27, 2008 09:00:14

kinj84

Member Since: January 2008 Contribution: 6

RE: What you meant Retained Earnings? When the Entries are created and what is the entry?

It refers to the earnings or loss that the company retains at the end of the year/end of the period.

It is basically the portion of net income from end of the year which is retained by a corportation.

If the net income is positive then profits for that period are retained.

If the net income is negative then losses for that period are retained.

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July 13, 2009 07:45:14

satishmkumar

Member Since: May 2009 Contribution: 10

RE: What you meant Retained Earnings? When the Entries are created and what is the entry?

The Retained Earnings is retained from business or the total profits generated in a financial year which is not distributed to shareholders.

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