All necessary amounts to prepare the balance sheet,including ending retained earnings,can be found in the Balance Sheet columns of the work sheet.

Question

Quizplus · Accepted Answer

The balance sheet columns of the work sheet provide the balances for assets, liabilities, and equity accounts, but the ending retained earnings amount is determined by updating the beginning retained earnings with the net income (or loss) and dividends from the income statement, which are not directly shown in the balance sheet columns.

All Necessary Amounts to Prepare the Balance Sheet,including Ending Retained