which of the columns of the work sheet would the Retained earnings account be found?
A) In the Trial Balance debit column, the Adjusted Trial Balance debit column and the Balance Sheet debit column
B) In the Trial Balance credit column, the Adjusted Trial Balance credit column and the Balance Sheet credit column
C) In the Balance Sheet debit column and the Income Statement credit column
D) In the Balance Sheet credit column and the Income Statement debit column

Question

Quizplus · Accepted Answer

Retained earnings represent the cumulative amount of net income earned by a company that is retained by the company rather than distributed to its shareholders as dividends. Since retained earnings are essentially the company's accumulated profits, they are recorded as a credit balance. Therefore, they would appear in the credit column of the Trial Balance, the Adjusted Trial Balance, and the Balance Sheet.

Which of the Columns of the Work Sheet Would the Retained