LO 4.5 On which two financial statements would the Retained Earnings account appear?Choose all applicable answers – you may select more than one.A. Balance SheetB. Income StatementC. Retained Earnings StatementD. Statement of Cash Flows
Question
LO 4.5 On which two financial statements would the Retained Earnings account appear?Choose all applicable answers – you may select more than one.A. Balance SheetB. Income StatementC. Retained Earnings StatementD. Statement of Cash Flows
Solution
The Retained Earnings account would appear on two financial statements:
A. Balance Sheet C. Retained Earnings Statement
So, the correct answers are A and C.
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