Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

12. Stockholders' Equity

Retained Earnings

Financial Accounting

12. Stockholders' Equity

Retained Earnings

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Multiple Choice

The retained earnings statement shows all of the following except:

Total assets at the end of the period

Beginning retained earnings balance

Net income or net loss for the period

Dividends declared during the period

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Understand the purpose of the retained earnings statement: It is a financial statement that shows changes in retained earnings over a specific period. Retained earnings represent the portion of net income that is retained by the company rather than distributed as dividends.

Identify the components typically included in the retained earnings statement: These include the beginning retained earnings balance, net income or net loss for the period, and dividends declared during the period.

Recognize that total assets at the end of the period are not part of the retained earnings statement: Total assets are reported on the balance sheet, not the retained earnings statement. The retained earnings statement focuses solely on changes in retained earnings.

Clarify the relationship between retained earnings and other financial statements: Retained earnings are part of the equity section of the balance sheet, but the retained earnings statement itself does not include information about total assets.

Conclude that the correct answer is 'Total assets at the end of the period,' as this item is not shown in the retained earnings statement.