q1 Retained earning account if credit balance means company gains else loss?
q2 Retained earning is transferred from P&L niat (net income after tax) after (sales - expenses), assuming a simple income statement?
q3 If q2 is correct then if income is earning, then it is credit in P&L. When transferred to retained earning it will be credit balance?
q4 If income is a loss then it is a debit in P&L. When transferred to retained earning it will be debit balance?
q5 Normally showing in income statement, the sign for sales is positive whereas for expense value is in bracket. the actual value recorded is not affected, right?
Appreciate to have advice. Thank you.