Question
For the current tax year, Task Corporation had an unappropriated retained earnings beginning balance of $115,000 and net income per books of $155,000. During the
For the current tax year, Task Corporation had an unappropriated retained earnings beginning balance of $115,000 and net income per books of $155,000. During the current year, Task had a loss on a sale of securities of $10,700, paid cash dividends of $85,000, and received a refund of last year's income taxes of $24,000.
What is Task Corporation's unappropriated retained earnings ending balance for the current year?
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South Western Federal Taxation 2017 Essentials Of Taxation Individuals And Business Entities
Authors: William A. Raabe, David M. Maloney, James C. Young, Annette Nellen
20th Edition
978-0357109144, 978-0357686652, 978-1305874824
