In the adjusted trial balance part of the accounting cycle, the retained earnings account has its beginning-of-period

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In the adjusted trial balance part of the accounting cycle, the retained earnings account has its beginning-of-period balance, whereas the rest of the permanent accounts have their end-of-period balances. Explain why this is so.
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Financial Accounting A User Perspective

ISBN: 978-0470676608

6th Canadian Edition

Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry

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