Hi all,
Would like to know if to split the retain earning amount and post to different RE account, how to go about ?
A bit confuse on the date with Cdd/mm/yyyy.
If I have 2 retained earning a/c (eg. RE1 and RE2), once closed income statement(point to RE1 - $15,000) and before posting the closing journal, can I change partial amount to post to RE2(Eg. RE1 - $10,000 RE2 - $5,000) ? Should the date with 'C' or without 'C' ? and how it will affect my balance sheet and profit and loss a/c ?
Thanks.
Would like to know if to split the retain earning amount and post to different RE account, how to go about ?
A bit confuse on the date with Cdd/mm/yyyy.
If I have 2 retained earning a/c (eg. RE1 and RE2), once closed income statement(point to RE1 - $15,000) and before posting the closing journal, can I change partial amount to post to RE2(Eg. RE1 - $10,000 RE2 - $5,000) ? Should the date with 'C' or without 'C' ? and how it will affect my balance sheet and profit and loss a/c ?
Thanks.