Do retained earnings have a tax implication?

Jan 31, 2023 ... One way to clear the liability is with a balanced journal entry. Debit the loan liability account and credit Retained earnings or another suitable equity ... 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 ... Jun 14, 2014 ... Retained earnings (net income for your organization); Other equity ... Typically you will have more expense accounts than any other type of ... This net income is then added to the balance sheet as retained earnings, which is a type of Equity account. Below are the standard Income and Expense accounts ... What type of account is a retained earnings account? A retained earnings account is an equity account. At the end of a given reporting period, any net income ... Retained earnings is the corporation's past earnings that have not been distributed as dividends to its stockholders. Are Retained Earnings an Asset? The amount ... Apr 18, 2024 ... The retained earnings account can also be called as net profit/net losses carry forward to be the part of the general reserves account. ... accounting for the dividend in kind at the recorded amount may not be appropriate. ... Consistent with the accounting for stock dividends, retained earnings ... Common Stock, Retained Earnings, Capital, Drawings. Revenue. Sales, Sales ... type of account, etc. For example, if a company has ten departments ... Sep 17, 2018 ... These payments -- from a corporation's profits or from its accumulated retained earnings ... This type of payment, often referred to as a ...