Assertion: balance sheet's difference | /r/HasProperty | posted to a balance sheet equity account
Facets:
value: at the end of each year
type: TEMPORAL
value: for owners
type: TRANSITIVE-OBJECT
value: for corporations
type: TRANSITIVE-OBJECT
Source sentences:
text: At the end of each year when the Income Statement accounts are reset to zero, the difference between their debit and credit balances (Net Income/(Loss)) is posted to a Balance Sheet Equity account called Retained Earnings (for corporations or Owners’ Capital for other types of organizations).