ACCT 2301 101 Retained earnings:
January 7th, 2018
Retained earnings:Generally consists of a company’s cumulative net income less any net losses and dividends declared since its inception.Can only be appropriated by setting aside a cash fund.Represent an amount of cash available to pay shareholders.Are never adjusted for anything other than net income or dividends.Represents the amount shareholders are guaranteed to receive upon company liquidation.