Identify which of the following items would be reported as additions (A) or deductions (D) in a Retained Earnings Statement.
1. Net Income
2. Net Loss
3. Cash Dividends
4. Stock Dividends
5. Prior period adjustments to correct for overstatement of prior years' net income
6. Prior period adjustments to correct for understatement of prior years' net income

Question

Quizplus · Accepted Answer

The Answer of Identify which of the following items would be reported as additions (A) or deductions (D) in a Retained Earnings Statement.
1. Net Income
2. Net Loss
3. Cash Dividends
4. Stock Dividends
5. Prior period adjustments to correct for overstatement of prior years' net income
6. Prior period adjustments to correct for understatement of prior years' net income

Identify Which of the Following Items Would Be Reported as Additions