Retained Earnings Explained Definition, Formula, & Examples
Content AccountingTools How to calculate the effect of a cash dividend on retained earnings Retained Earnings vs. Revenue Statement of retained earnings definition Retained earnings are the profits or net income that a company chooses to keep rather than distribute it to the shareholders. From the profit it earned during a year, it had a […]
1 8 The Accounting Cycle Financial and Managerial Accounting
Content Step 6: Closing the Books Post transactions to general ledger. How the Accounting Cycle Works Closing the Accounting Cycle Preparing the Trial Balance A period is one operating cycle of a business, which could be a month, quarter, or year. If you use a single-entry accounting system (i.e., cash-basis accounting), you can still use the accounting […]