The ending balance in Retained Earnings appears on the:
A)Balance Sheet only.
B)Balance Sheet and Statement of Retained Earnings.
C)Statement of Retained Earnings only.
D)Income Statement and Statement of Cash Flows.

Question

Quizplus · Accepted Answer

The ending balance in Retained Earnings appears on both the Balance Sheet and the Statement of Retained Earnings. The Balance Sheet reports the company's assets, liabilities, and equity as of a specific date, including the ending balance in Retained Earnings. The Statement of Retained Earnings shows how the Retained Earnings balance changed over a particular period due to net income, dividends, and other adjustments. Therefore, both the Balance Sheet and the Statement of Retained Earnings provide information on the ending balance in Retained Earnings.

The Ending Balance in Retained Earnings Appears on The