This is my first time entering values in a Balance Sheet. Under Retained Earnings, I have a field for 'Distribution - Current'. I understand that this is the field I would enter the value of Owner Withdrawals. My question is - if there was a $25,000 owner withdrawal for the year, do I enter this figure positive or negative?
USA Balance Sheet - Retained Earnings
- Thread starter JMN000
- Start date
thanks for your response. in this exercise, i am not using quicken to create a balance sheet. i am entering all the values in balance sheet template.
to make sure i understand, here's what my Retained Earnings section under Equity looks like:
Retained Earnings
Retained Earnings Prior: $10,000
Retained Earnings Current: $15,000
Distribution Prior: ($20,000)
Distribution Current: (25,000)
Total Retained Earnings: ($20,000)
so, if there were owner withdrawals of $20,000 in the prior year and $25,000 in the current year, these would show up as negative in the balance sheet. Is this correct?
to make sure i understand, here's what my Retained Earnings section under Equity looks like:
Retained Earnings
Retained Earnings Prior: $10,000
Retained Earnings Current: $15,000
Distribution Prior: ($20,000)
Distribution Current: (25,000)
Total Retained Earnings: ($20,000)
so, if there were owner withdrawals of $20,000 in the prior year and $25,000 in the current year, these would show up as negative in the balance sheet. Is this correct?