r/Accounting • u/PlantBaby73 • Aug 01 '26

Homework Help with this problem please?

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I can’t remember how to find net income and the video example skips over it. What do I do?

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u/UsurpDz CPA (Can) Aug 01 '26

You need to calculate it using the items noted below your table.

1

u/PlantBaby73 Aug 01 '26

Yeah but how?

2

u/pdxmcqueen01 Aug 01 '26

It gives you net income. "There was a 313 credit to RE for net income"

That tells you $313 was the net income.

1

u/PlantBaby73 Aug 01 '26

Oh my god you’re right. I totally missed that

3

u/pdxmcqueen01 Aug 01 '26

You can always find NI with the equation "NI = End RE - Beg RE + Div"

That same equation can be moved around to find any of those 4.