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How do i find the retained earnings and prepare a balance sheet for the company.

How do i find the retained earnings and prepare a balance sheet for the company.

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Expert Solution

How to Find out the Retained Earning

Note: Retained Earning means money which company had earned and not used for paying dividend and expenses.

Following computation to be made to know retained earning

Retained Earning from previous Year    ****

Company net income                                   ****

Dividend paid in Current Year                   *****

Balance will called as retained earning    *****

How to prepare a balance sheet.

  1. In header level , company name, title of financial statement ( i.e. Balance sheet), period to be mentioned in Header level,
  2. Two coloum to be represented One for Current period and Last period , to show the comparison.
  3. Major Heading to be presented first in Balance sheet

Current Assets
Cash
Marketable Securities
Accounts Receivable
Inventories
Prepaid Expenses

Fixed Asset

Intangible Asset

Other Non-Current Asset

Total Asset

Liabilities

Current Liabilities

Account Payable

Accrued Expense

Short term loan

Income Tax Payable

Total Curent Liabilities

Non- Current Liabilities

Line of Credit

Term loan

Total Non-Current Liabilities

Total liabilities

EQUITY

Capital

Current year Earning

Retained Earning

Total Equity

Total Liability & Equity

Asset    = Total Liability and Equity ( must be matched)

ekkarill92 answered 2 years ago
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