Can a company with declining profits still have positive retained earnings?

Nov 23, 2022 ... Retained Earnings b. What type of account is the Employee Advances account? i. Asset ii. Liability iii. Equity iv. Expense c. What is the ... Its purpose is to record income (or expenses) before they are moved to the balance sheet as retained earnings. ... Sweep accounts are a particular type of bank ... The Retained Earnings account is updated each year upon the completion of the Financial Year Close Off. It is a cumulative account used for reporting purposes ... With that in mind, Striven provides the option to flag an Equity-type account as a Retained Earnings account, which will then be calculated into the actual ... ... (Form 1120-S). See instructions. Schedule M-2 CA Accumulated Adjustments Account, Other Adjustments Account, and Other Retained Earnings. See instructions ... Jun 19, 2024 ... Balance sheet accounts will be rolled forward to the next year, and Profit and Loss accounts will be rolled into the Retained Earnings account. The balance of this account appears as Reserves & Surplus in the Balance Sheet for the year. In this case we show how to configure an account of this kind in ... The balance sheet account balances are the balances at. December 31, 2009 except for the retained earnings balance which is the balance at 1/1/2009: Accounts ... separately account for their business type services. ... What information is necessary for the Director of Accounts to certify retained earnings of the enterprise ... Retained earnings. 319. Cash dividends. 320. Stock dividends. 321. Treasury stock, Common. 322. Unrealized gain-Equity. 323. Unrealized loss-Equity. The ...