A manufacturing company has prepared the operating budget,the cash budget,and the budgeted income statement and is now preparing the budgeted balance sheet.The balance of Retained Earnings can be taken from the ________.

Question

Quizplus · Accepted Answer

The balance of retained earnings can be found by taking the ending balance from the previous year's balance sheet and adding the current year's net income (as shown on the budgeted income statement) and subtracting any dividends paid. It cannot be found on any of the budgets listed in the options.

A Manufacturing Company Has Prepared the Operating Budget,the Cash Budget,and