On a budgeted balance sheet, the retained earnings number is the net income number as projected by the budgeted income statement.

Question

Quizplus · Accepted Answer

The retained earnings number on a budgeted balance sheet includes not only the net income projected by the budgeted income statement but also the retained earnings from the beginning of the period, adjusted for any dividends that are expected to be paid out during the period.

On a Budgeted Balance Sheet, the Retained Earnings Number Is