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Hi Razak
Right you are ! Retained earnings account is a balance sheet account
featuring on the liabilities side of the balance sheet. It is the ultimate
gatherer of the profit / loss which is determined in the profit and loss
account. An increase in retained earnings account during closing indicates a
profit fit to be declared as a liability to the investors and a decrease in
the same denotes an erosion of the investors' capital.
Regards
VidhyaDhar
| | | ---------------Original Message---------------
From: Abdul Razak
Sent: Friday, October 21, 2011 11:15 AM
Subject: Retained Earnings Account While Creating New P and L GL Accounts in ECC6
Dear Sir,
Thank you very much for your reply.
Is retained earnings a/c a B/S account ?
Is this account get posted when we carry forward the balance of P&L ?
If so, will it get posted with minus balance in case P&L shows loss
for the reposting period?
I do always appreciate your prompt response.
Regards,
Abdul Razak VT |
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